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한상넷 로고한상넷

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Hana Financial Group shareholders approve third term for chief Kim Jung-tai
Collected
2018.03.25
Distributed
2018.03.26
Source
Go Direct
South Korea’s Hana Financial Group shareholders on Friday gave a nod to a plan to allow chairman Kim Jung-tai to lead the investment holding company for a third term. Kim’s new term will end in March, 2021.

On Friday, 84.6 percent of shareholders who attended the meeting voted in favor of appointing Kim as internal director - which is 78.9 percent of all shareholders. Only 15 percent of shareholders voted against the plan while 0.5 percent abstained.

The reappointment comes after Institutional Shareholder Services, a global proxy advisory firm that analyzes shareholder agendas of global companies, presented an advocate view on Kim’s reappointment noting his contribution to enhancing overall shareholder value. Foreign investors have a combined 73 percent stake ownership in Hana Financial that is engaged in diverse financial businesses from banking to credit card segment.

Kim is the third chairman of a financial holding company in Korea to serve a third term after Ra Eung-chan, former chairman of Shinhan Financial Group, and Kim Seung-yu, former chairman of Hana Financial Group.

Kim started his career in the financial sector by joining Seoul Bank in 1981 before helping set up Hana Bank in 1992 as a founding member. He served various roles including vice president of Hana Bank and president of Hana Daetoo Securities Co. before becoming chief executive of Hana Bank in 2008. Kim was tapped as Hana Financial Group Chairman in March 2012.

By Lee Seung-yoon and Lee Eun-joo

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