Courtesy of Woori Financial Group
Woori Financial Group’s candidates for the next president have been limited to a total of four. The previous three figures and the holder of Woori Finance include former Chairman of the Financial Services Commission Lim Jong-ryong, and the mophia parachute controversy regarding former Chairman Lim is expected to continue.
The Woori Financial Executive Candidate Recommending Committee (Limchu Committee) held a meeting on the afternoon of the 27th and discussed the expertise, leadership, communication skills, morality, and work experience of the 7 candidates who were in the 1st round of candidates for the next president, and decided on a total of 4 candidates for the 2nd round.
The candidates for the second round are Hyun-seok Shin, head of Woori America Corporation, Won-deok Lee, president of Woori Bank, Lee Dong-yeon, former president of Woori FIS, and Jong-ryong Lim, former chairman of the Financial Commission Services. The Imchu Committee classified the new corporation’s president and CEO Lee as internal personnel, and former president Lee and former chairman Lim as external personnel, but the only ‘pure’ external person who did not go through Woori Financial Group is former chairman Lim.
The appointment committee will conduct a detailed interview with four candidates on the 1st of next month and an additional interview on the 3rd to make a final recommendation to the chairman. Current Chairman Son Tae-seung’s term ends in March.
As Lim is included in the second round of candidates, opposition from financial workers such as Woori Financial Union, who see Lim as a ‘Mofia parachute’, is expected to continue. Woori Financial Group managed to be fully privatized after 23 years at the end of 2021, and members are very opposed to bureaucratic personnel.
The National Financial Industry Trade Union and Woori Finance Trade Union Council said, “If (former chairman Lim) expresses his will to become the head of Woori Finance, he will cheat financial workers and kill Woori Finance workers who are trembling with sense. You have to keep that in mind,” he said.
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