KB Financial Group’s board of directors has nominated Seo Jeong-ho, managing partner of law firm The Wiz, as a latest independent director, the company announced Wednesday.
The nomination, made by the company’s external director candidate recommendation committee, also includes the reappointment of four existing independent directors: Cho Hwa-jun, Choi Jae-hong, Kim Seong-yong, and Lee Myeong-hwal. The appointments are subject to approval at the group’s regular shareholder meeting in March, according to a statement released by KB Financial Group.
Seo, who passed both the administrative and bar exams, brings a distinguished legal background to the role. He previously served in the National Tax Service and the Ministry of Economy and Finance before establishing himself at The Wiz, where he specializes in tax, finance, and corporate law. He has also provided extensive counsel to financial regulatory bodies including the Financial Services Commission, the Financial Supervisory Service, and the Korea Customs Service.
Seo has prior experience as an independent director at financial institutions such as Hyundai Capital and Hanwha General Insurance, demonstrating a track record in corporate governance. KB Financial Group highlighted that Seo’s expertise will strengthen the legal capabilities of its board, particularly as the legal responsibilities of corporate boards expand due to revisions in commercial law. The appointment also contributes to increased diversity on the board, reducing the proportion of directors with academic backgrounds to 42 percent, according to the company.
The move comes as KB Financial seeks to bolster its board’s expertise in legal and internal control matters, according to reports. The appointment of Seo is expected to enhance the board’s legal expertise, while also reducing the representation of academics, according to The Fair News.
