KB Financial in South Korea selects Lee Jae-geun as chairman candidate
In South Korea, financial group KB Financial Group has selected Lee Jae-geun as the final candidate for the position of group chairman. According to The Korea Herald, he is currently responsible for global business, wealth management and corporate finance at KB Financial.
Appointment in November
The decision was made by the group’s chairman candidate recommendation committee. Lee Jae-geun is expected to be officially appointed at an extraordinary general meeting of shareholders on November 20 — the day incumbent chairman Yang Jong-hee’s term ends.
The new chairman is to take office on November 21. His term will last three years.
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Earlier, the committee compiled a shortlist of three candidates: Lee Jae-geun, Yang Jong-hee and former Woori Bank CEO Kwon Kwang-seok. Yang Jong-hee, who had been expected to serve a second term due to the group’s strong financial results and increased shareholder payouts, will leave the post.
Candidate’s experience
KB Financial said that Lee has experience in finance, strategy, global business and wealth management. From 2022 to 2024, he headed KB Kookmin Bank, the group’s key lending unit.
Lee took charge of global business, wealth management and corporate finance in 2025. Cho Hwa-jun, chairman of the recommendation committee, said the candidate is capable of leading KB Financial toward sustainable growth amid changes in the financial industry and a redistribution of cash flows.
