DGB Financial Increases Outside Directors by 2... Recommends 4 New Candidates

DGB Financial Group has newly recommended four candidates for outside directors.

The Outside Director Candidate Recommendation Committee of DGB Financial Group announced on the 15th that it has recommended Choi Yong-ho, Noh Tae-sik, Cho Dong-hwan, and Jung Jae-soo as new outside director candidates. They are scheduled to be appointed through a resolution at the regular shareholders' meeting on the 30th, with a term of two years.

Among the current outside directors, Cho Sun-ho and Lee Jin-bok, whose terms are expiring, have expressed their intention to resign. Accordingly, the number of outside directors at DGB Financial has increased from five to seven.

The newly recommended candidate Choi Yong-ho is an emeritus professor in the Department of Economics and Trade at Kyungpook National University and an authority on the regional economy. Candidate Noh Tae-sik has expertise in the financial sector, having worked at the Bank of Korea, the Financial Supervisory Service, and the Korea Federation of Banks. Candidate Jung Jae-soo is a legal professional who served as a chief judge at Daegu District Court and as the head of Sangju Branch Court. Candidate Cho Dong-hwan is an expert in accounting and finance with over 30 years of experience as a certified public accountant.

DGB Financial's outside director candidates are selected through recommendations from shareholders and external search firms, and then shortlisted through evaluations by a personnel advisory committee composed of external experts. Subsequently, the nomination committee, consisting solely of outside directors, recommends preliminary candidates considering necessary areas of expertise and conducts verification procedures before recommending the final candidates.

Accordingly, candidates Choi Yong-ho and Jung Jae-soo were included in the outside director candidate pool through the shareholder recommendation system. If these two candidates, along with other outside directors, are appointed at the shareholders' meeting, the DGB Financial board of directors will be composed of experts in various fields including finance (Director Cho Kang-rae), IT/digital (Director Lee Seung-cheon), financial consumer protection (Director Kim Hyo-shin), as well as finance, accounting/finance, law, and risk management.

A representative of the nomination committee stated, "The new candidates are experts in their respective fields, and it is expected that they will strengthen the role of outside directors in monitoring and supervising management and lead exemplary governance by enhancing the board's expertise."