Head of financial organization ‘Private →bureaucrat’ to u turn…Previous bureaucrat to wait up
[ Cho Eun Guk ceg4204@ ] | 2017-10-30 10:46:43
Former bureaucrats are entering the banking sector in the past, where most of the private financial sector members were involved. Starting with the appointment of a former bureaucrat to the head of the next loss insurance association, there is a prospect that the Federation of Banks and the Life Insurance Association will be transformed into a bureaucratic chairman system. As a result of the dispute over the corrupted official paratroopers after the Soweho disaster, most of the financial associations have been appointed as the head of the private sector by the financial institutes, but the new government is expected to replace the former bureaucrats. In the past, there have been many criticisms that the president of the private sector is lacking in power, and there are concerns that the banking system may become cloudy with former official bureaucrats as a parachute member, as well as voices calling for bureaucrats or politicians to be replaced.
According to the finance ministry on October 29, the Association of Non-governmental Unions (NHIC) held the third chairman`s recommendation committee on October 26 and nominated Kim Yong-deok, former chairman of the Financial Supervisory Committee, as the next president. The NSC is expected to hold a general meeting on October 31 and plan to appoint Kim as the new chairman. In the past, the NIS has been in charge of the presidency, but as a negative view of the president of the bureaucratic association has grown, the former president of the private sector, Jang Nam-sik, has been in charge.
Meanwhile, the Bank of Korea also met with nine chairmen of the board of directors including Pyeongchang, Shinhan Bank, Yoon Jong-kyu, KB Financial Group Chairman and Kookmin Bank Chairman and Woori Bank President Lee Kwang-gu. As the term of the chairman of the banking association of Ha Hae-kwan ends at the end of next month, it is in full swing. Currently, there are five or six people including civilian and bureaucrats. The former bureaucrats Kim Chang-lok, former foreign exchange bank president Yoon Yong-ro, and former prime minister Hong Jae- Shin Sang-hoon, former head of Shinhan Financial Group, and former head of the National Bank, Ming Byung-deok, are mentioned in the private sector. An official from the financial sector said, "The president of the board of directors will recommend the next presidential election, but it is not yet at the stage where anyone can say that it is likely to be influential," the bureaucrat said.
The Life Insurance Association, on the other hand, is also expected to form a committee for nominating presidents for the next presidential election next month. As Lee Soo-chang`s term expires on December 7, Mr. Lee is planning to appoint the next president. As in the case of the non-life insurance association, the life insurance association is likely to elect a bureaucrat as its next president. Yang Cheon-sik, formerly a bureaucratic economist, is now head of the Korea Export-Import Bank of Korea and former President of Korea Policy Finance Corporation Jin Young-wook.
In the financial sector, the reason for the recruitment of bureaucrats to the head of the banking system is considered to be due to the high demand from bureaucrats with high reputation in the banking business due to the nature of the regulated industry. The financial industry corporation is in the position that it should come up with a person who can coordinate well with both the financial committee and the financial authorities as well as the financial sector.
"The association hopes that the chairman of the bureaucracy will be able to convey their voices to the government as much as the industry`s interests are top priority," an official from the financial sector said. However, it is pointed out that the former government bureaucrats are being repeatedly employed at the head of the private sector, and that it will further deepen the "government finance" of the financial sector.
By Cho Eun Guk ceg4204@
[ copyright ⓒ The Digitaltimes ]
According to the finance ministry on October 29, the Association of Non-governmental Unions (NHIC) held the third chairman`s recommendation committee on October 26 and nominated Kim Yong-deok, former chairman of the Financial Supervisory Committee, as the next president. The NSC is expected to hold a general meeting on October 31 and plan to appoint Kim as the new chairman. In the past, the NIS has been in charge of the presidency, but as a negative view of the president of the bureaucratic association has grown, the former president of the private sector, Jang Nam-sik, has been in charge.
Meanwhile, the Bank of Korea also met with nine chairmen of the board of directors including Pyeongchang, Shinhan Bank, Yoon Jong-kyu, KB Financial Group Chairman and Kookmin Bank Chairman and Woori Bank President Lee Kwang-gu. As the term of the chairman of the banking association of Ha Hae-kwan ends at the end of next month, it is in full swing. Currently, there are five or six people including civilian and bureaucrats. The former bureaucrats Kim Chang-lok, former foreign exchange bank president Yoon Yong-ro, and former prime minister Hong Jae- Shin Sang-hoon, former head of Shinhan Financial Group, and former head of the National Bank, Ming Byung-deok, are mentioned in the private sector. An official from the financial sector said, "The president of the board of directors will recommend the next presidential election, but it is not yet at the stage where anyone can say that it is likely to be influential," the bureaucrat said.
The Life Insurance Association, on the other hand, is also expected to form a committee for nominating presidents for the next presidential election next month. As Lee Soo-chang`s term expires on December 7, Mr. Lee is planning to appoint the next president. As in the case of the non-life insurance association, the life insurance association is likely to elect a bureaucrat as its next president. Yang Cheon-sik, formerly a bureaucratic economist, is now head of the Korea Export-Import Bank of Korea and former President of Korea Policy Finance Corporation Jin Young-wook.
In the financial sector, the reason for the recruitment of bureaucrats to the head of the banking system is considered to be due to the high demand from bureaucrats with high reputation in the banking business due to the nature of the regulated industry. The financial industry corporation is in the position that it should come up with a person who can coordinate well with both the financial committee and the financial authorities as well as the financial sector.
"The association hopes that the chairman of the bureaucracy will be able to convey their voices to the government as much as the industry`s interests are top priority," an official from the financial sector said. However, it is pointed out that the former government bureaucrats are being repeatedly employed at the head of the private sector, and that it will further deepen the "government finance" of the financial sector.
By Cho Eun Guk ceg4204@