[Alpha Biz=(Chicago) Reporter Paul Lee] The National Pension Service has decided to approve the appointment of Yang Jong-hee, the next chairman of KB Financial Group.

The National Pension Service said on the 15th that it held its 14th meeting and decided to approve KB Financial Group after discussing the appointment of the next chairman on the agenda for an extraordinary shareholders' meeting on the 17th. The committee reportedly judged that there were no major flaws related to nominee Yang's history.

The National Pension Service is the largest shareholder with an 8.74% stake in KB Financial Group (as of the 6th of last month). The National Pension Service decides the direction of voting rights when dealing with the issue of appointing a CEO in a company that is a major shareholder.

KB Financial Group Chairman Candidate Recommendation Committee selected candidate Yang as the final candidate for the next chairman in September.

With the National Pension Service agreeing to appoint Yang as chairman, KB Financial's selection of the next chairman is expected to be completed without any change.

 

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