April 27, 2024

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The financial regulator has voiced worries about a bid by the chief executive of KEB Hana Bank for a second term, citing his indictment over hiring irregularities, an industry source said on Feb. 27.

Ham Young-joo, CEO of KEB Hana Bank, was indicted in June last year over allegations that he was involved in hiring irregularities. Ham, whose term will end next month, has been on trial since last September and is seeking a second three-year term.

The worries were conveyed at a meeting between officials at the Financial Supervisory Service and outside directors of KEB Hana Bank, according to the source. 

During the meeting, FSS officials criticized Ham for staying in the job, while relieving other bank officials of their duties after being indicted over allegations of hiring irregularities last year.

Financial authorities have said they would enhance the independence of board members at financial firms, but they would step up their monitoring of corporate governance risks.

By Ram Garikipati and newswires (ram@heraldcorp.com)