March, 26, 2010

KB Financial Group replaced three outside directors in a shareholders' meeting at the headquarters of Kookmin Bank in Seoul, Friday, joining in the industry-wide move to overhaul their board rooms.Former Industrial Bank of Korea CEO Lee Kyung-jae, EZ Digital CEO Lee Young-nam and Sookmyung Women's University Professor Koh Seung-hee were appointed as new outside directors of the group. Jacques Kemp, former ING Asia-Pacific CEO, was reappointed as an outside director.

Among them, Lee Kyung-jae was appointed as chairman of the board of directors. Lee had served several key economic posts, such as CEO of Industrial Bank of Korea, chief executive of Korea Financial Telecommunication & Clearings Institute and an auditor at the Bank of Korea.``I feel honored to be appointed a board chairman of KB. I will help KB to retain its vitality again,'' Lee said.Hana Financial Group also appointed Kim Kack-young, former head of the prosecutors' office, as new chairman of the board of directors at the board meeting of directors at the headquarters of the group in Seoul, Friday.

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