Major Bank Presidents Discuss COVID-19 Measures at Bank Federation Board Meeting

[Asia Economy Reporter Kwon Haeyoung] Major bank CEOs attended the Korea Federation of Banks regular board meeting to discuss measures related to the rapidly spreading novel coronavirus infection (COVID-19).

Lee Daehoon, CEO of NH Nonghyup Bank, said to reporters on the 24th before attending the Korea Federation of Banks regular board meeting in Myeongdong, Jung-gu, Seoul, "It seems that the bank's measures regarding COVID-19 will be discussed."

Attending the board meeting were Jin Okdong, CEO of Shinhan Bank; Heo In, CEO of KB Kookmin Bank; Ji Sungkyu, CEO of Hana Bank; Lee Daehoon, CEO of Nonghyup Bank; and Yoon Jongwon, CEO of IBK Industrial Bank of Korea.

Although there were no COVID-19 related agenda items initially, the rapid spread of COVID-19 centered in Daegu over the past weekend led the bank CEOs to discuss countermeasures at the meeting. Previously, Shinhan Bank, Kookmin Bank, Woori Bank, Nonghyup Bank, and Daegu Bank had closed some branches where confirmed COVID-19 cases occurred.

Meanwhile, the Korea Federation of Banks board meeting had planned to hold a meeting and dinner with Min Byungdoo, Chairman of the National Assembly's Political Affairs Committee, but due to the spread of COVID-19, Chairman Min canceled his attendance, and the event was scaled down.