KB Financial picks Lim Young-rok as new chairman

KB Financial Group has designated Lim Young-rok, the incumbent president of the group, as its new chairman. Lim's nomination is subject to the approval by the board and shareholders' meetings slated for July 12, officials of the group said.

Lim, if he wins approval, will replace Euh Yoon-dae.

His nomination was made during a meeting of the group's chairman-selection committee on Wednesday.

The nominee, who spent most of his bureaucratic career at the finance ministry, has served as president of KB Financial, the country's No. 2 banking group, since August 2010.

AJP