NongHyup Financial Recommends Lee Jong-hwa and Lee Yoon-seok as New Outside Director Candidates

Starting a 2-Year Term from the 1st of Next Month
Outside Directors Ham Yu-geun and Nam Byung-ho Reappointed

Professor Jonghwa Lee of Korea University Department of Economics (left) and Yoonsuk Lee, Director of the Overseas Financial Cooperation Support Center at the Korea Institute of Finance. Photo by NongHyup Financial Group

NongHyup Financial Group held a nomination committee meeting on the 24th and selected Professor Lee Jong-hwa of Korea University’s Department of Economics and Lee Yoon-seok, head of the Overseas Financial Cooperation Support Center at the Korea Institute of Finance, as new outside director candidates.

They will be finally appointed after the NongHyup Financial shareholders’ meeting on the 31st, succeeding resigned directors Song In-chang and Lee Soon-ho. Their term will be two years, from the 1st of next month until March 31, 2025. Outside directors Ham Yoo-geun and Nam Byung-ho, whose terms expire on the 31st of this month, were reappointed.

Professor Lee earned his master’s and doctorate degrees in economics from Harvard University and has served as an economist at the International Monetary Fund (IMF), advisor to the World Bank, senior economist at the Asian Development Bank, international economic advisor to the Blue House and G20 Sherpa, and president of the Korean Economic Association. Lee Yoon-seok earned his master’s and doctorate degrees in economics from the University of Illinois and has served as a member of the Ministry of Strategy and Finance’s internal regulatory review committee, director of the International Economic Association, and management evaluation committee member of the Export-Import Bank of Korea.

NongHyup Financial stated, “Both candidates are experts with deep insight and diverse experience in the fields of economics and finance. In the unstable domestic and international financial environment, their accurate analysis of current conditions and future forecasts will be of great help to NongHyup Financial.”