Hana Financial Group Revises Internal Governance Rules to Guarantee Term Even if Age 70 Is Reached During Tenure

▲Ham Young-joo, Chairman of Hana Financial Group

Hana Financial Group has amended its internal governance regulations to include a provision that guarantees the full term of office even if the age of 70 is reached during the tenure.

According to the financial sector on the 11th, Hana Financial disclosed the amendments to its internal governance regulations the day before.

In the revised regulations, Hana Financial stated, "The age limit for directors' tenure is up to 70 years old, but if a director reaches the age of 70 during their term, the final term shall last until the first regular shareholders' meeting convened after the end of the current term."

This changed the phrase from "after that day" to "after the current term."

As a result, directors who turn 70 during their term can now complete their full tenure.

A Hana Financial official explained, "While maintaining the age limit of 70 for tenure, we decided to guarantee the directors' terms granted through shareholders' meeting resolutions to ensure business continuity and stability."

Meanwhile, Chairman Ham Young-joo, whose term expires in March next year, was born in November 1956. Even if he succeeds in renewing his term, he will turn 70 in November 2026, and under the previous regulations, he would have had to retire at the regular shareholders' meeting in March 2027. He would have had to serve only 2 years instead of the original 3-year term, but with the revised regulation, he can now complete the full 3-year term.