Lee Jae-geun named next KB Financial chairman candidate

Lee Jae-geun, a division head at KB Financial Group, has been selected as the final candidate for the group's next chairman.

KB Financial's chairman candidate recommendation committee conducted in-depth interviews Friday with three candidates — former Woori Bank President Kwon Kwang-seok, incumbent Chairman Yang Jong-hee and Division Head Lee — before recommending Lee as the final candidate. Lee is set to be appointed representative director and chairman at an extraordinary shareholder meeting on Nov. 20, pending a review of executive eligibility requirements.

The committee said it highly evaluated Lee's broad experience across key functions — including finance, strategy, global operations and wealth management — at both the bank and holding company levels, as well as the groundwork he laid for improved profitability and reclaiming the top-bank position during his tenure as KB Kookmin Bank president. Committee Chairman Cho Hwa-jun said the group had reached "a point where bold change and a generational shift are needed to strengthen its core competitiveness and secure future growth engines," adding that Lee was judged to be the right person for the role.