President's University Alumnus Nominated as KDB Chairman... Park Sangjin, Former Chief Compliance Officer, Tapped (Comprehensive)

Chairman Kim Byunghwan Recommends Park Sangjin for Appointment
A Policy Finance Expert with 30 Years at KDB
Alumnus of Chung-Ang University Law School Alongside President Lee Jaemyung

Park Sangjin, a former Chief Compliance Officer of the Korea Development Bank (KDB) and an internal candidate, has been nominated as the new chairman of KDB. This marks the first time in the bank's history that an internal candidate has been appointed to the position of chairman.

On September 9, the Financial Services Commission announced that Chairman Kim Byunghwan had recommended Park, the former Chief Compliance Officer, as the new chairman of KDB. The KDB chairman is appointed by the President upon the recommendation of the Chairman of the Financial Services Commission.

Park, the nominee, has worked at KDB for about 30 years, serving in key positions such as the task force teams for Kia Group, Daewoo Heavy Industries, and Daewoo Motors, as well as Head of the Legal Department and Chief Compliance Officer. He is recognized as a policy finance expert with deep expertise in corporate restructuring and financial law.

This is the first time that an internal candidate has risen to the position of chairman at KDB. Historically, many previous chairmen have been high-ranking government officials, and the immediate past chairman, Kang Seokhoon, served as Senior Presidential Secretary for Economic Affairs.

The Financial Services Commission evaluated Park as the right person to successfully lead KDB's policy finance work, including support for advanced strategic industries, which is a pressing issue for the bank, in line with financial policies aimed at true growth and a major shift toward productive finance.

Born in 1962, Park graduated from Jeonju High School and the law department at Chung-Ang University. He is an alumnus of President Lee Jaemyung from university.

He joined KDB in 1990 and held major positions. From 2019 to 2022, he also served as Vice President of the Western Metropolitan Railroad.