Sh Suhyup Bank's Next President Selection Fails for Fourth Time... Fifth Round of Talks Set for Dec. 1

The selection of the next president of Sh Suhyup Bank has once again failed, with the current president's term nearing its end.

According to financial industry sources on November 11, the bank's President Recommendation Committee held its fourth meeting that afternoon to select a final candidate but failed to reach a decision.

At least four of the committee's five members—three recommended by the government and two by the National Federation of Fisheries Cooperatives—must agree on a candidate to make a final recommendation.

The race remains between current Sh Suhyup Bank President Shin Hakgi and Lee Hyungju, head of the Financial Intelligence Unit (FIU). As the committee failed to reach a decision on November 11, Shin's term, which expires on November 17, will be extended until a successor is appointed.

In 2017, when Lee Dongbin was appointed president, the committee held six rounds of meetings, and his predecessor, former President Lee Wontae, continued to perform his duties in the meantime.

The committee plans to hold its fifth meeting and continue deliberations on December 1. If it fails to reach a decision, it may reopen applications for the position.

SH Suhyup Bank President Shin Hakgi (left) and Financial Intelligence Unit (FIU) Director Lee Hyungju

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