Choi Chan-jin, Chairman of the Financial Supervisory Service, emphasized the fairness and transparency of the CEO selection process for subsidiaries of financial companies through a meeting with bank holding company chairmen. He argued that qualified candidates should be selected based on ability rather than relying on specific factions or personal connections, and urged them to supplement any shortcomings before starting the selection process. He also pointed out that excessive competition among banks is a concern in the bidding process for local government vaults, and stressed the need to consider national tasks such as regional capital circulation and balanced regional development. Finally, he mentioned the recent increase in financial accidents and urged banks to strengthen their internal control systems and work hard on organizational culture improvement.
