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Yim Jong-ryong, a former chief of the Financial Services Commission (FSC), took office Friday as the next chairman of Woori Financial Group under a three-year tenure. He pledged to revamp Woori's corporate culture and enhance the firm's competitiveness by realigning relations between the holding company and its affiliates.
The Korean government has de facto given up on demanding compensation from the Japanese government and companies for Korean victims of wartime slave labor during Japan's 1910-45 colonial rule. During an open forum on the issue at the National Assembly in Seoul, Thursday, a representative of the Ministry of Foreign Affairs said it is virtually impossible to achieve an ideal solution ― in which the Japanese companies offer compensation and sincere apologies for the victims ― and the ministry is now seeking a compromise.
The CEOs of five major commercial banks will be summoned to the National Assembly for an audit, Tuesday, in the wake of fraud, embezzlement and other serious irregularities involving lenders. The five CEOs - Lee Jae-keun of KB Kookmin Bank, Jin Ok-dong of Shinhan Bank, Park Sung-ho of Hana Bank, Lee Won-duk of Woori Bank and Kwon Jun-hak of NH Nonghyup Bank - will appear as witnesses for the audit of the Financial Supervisory Service (FSS).
NPS' dissenting votes weigh on financial firms
Lee Won-duk remains on Woori Financial Group board