Jeonbuk Bank: "Final Appointment of President Candidate Park Chunwon to Proceed After Additional Board Verification"

As the schedule for the board of directors meeting and the extraordinary general shareholders' meeting to appoint Park Chunwon as President of Jeonbuk Bank has been postponed, Jeonbuk Bank announced that the board will conduct additional verification.

On December 18, Jeonbuk Bank stated, "Candidate Park Chunwon was recommended as the final candidate for President of Jeonbuk Bank by the subsidiary CEO Candidate Recommendation Committee after thorough verification of his qualifications, including vision and strategy, leadership, expertise, and social responsibility, as well as issues raised in some media reports." The bank added, "The board of directors will reconfirm whether any additional verification is necessary, and the appointment process will be completed before the end of December."

Park Chunwon, Candidate for President of Jeonbuk Bank.

Previously, Jeonbuk Bank indefinitely postponed the board meeting and extraordinary general shareholders' meeting scheduled for December 16 to appoint the new president. As a result, there was speculation that this was due to 'legal risks' surrounding Park Chunwon, CEO of JB Woori Capital, who was selected as the final candidate for the next president of Jeonbuk Bank. He was investigated by a special prosecutor in July over allegations of involvement in the so-called Kim Keonhee Housekeeper Gate. JB Woori Capital has faced allegations of making an investment in IMS Mobility, a company reportedly established with the involvement of Kim Yesung, the housekeeper of First Lady Kim Keonhee, in exchange for favors.

Meanwhile, since Park took office as CEO of JB Woori Capital in 2021, the company has achieved record-high results every year, posting a net profit of 200 billion won for the first time since its establishment. JB Woori Capital, a core subsidiary of JB Financial Group, has made a significant contribution to the group's record performance. JB Financial Group reported a cumulative net profit of 578.7 billion won for the third quarter of this year.