Hana Financial Amends Internal Governance Regulations

[Field News = Reporter Kim Dae-seong] Hana Financial Group has reportedly changed its internal governance regulations to guarantee a normal term even for directors who turn 70 during their tenure.

Accordingly, if Ham Young-ju, the Chairman of Hana Group born in 1956, succeeds in his reappointment, he will be able to complete his full three-year term.

It has been reported that Hana Financial recently amended its internal governance regulations so that directors who turn 70 during their term can complete their entire term.

The existing internal regulations stipulated that "in the case that a director reaches the age of 70 during their tenure, the final term shall be until the first general shareholders' meeting convened after 'that day'."

However, this content has been revised to "in the case that a director reaches the age of 70 during their tenure, the final term shall be until the first general shareholders' meeting convened after 'that term'."

As the standard point for the end of the term changed from 'that day' to 'that term', directors who exceed 70 years of age during their term will now be able to fulfill their given term.

Chairman Ham Young-ju, whose term expires next March, was born in November 1956; even if he succeeds in reappointment, he will turn 70 in November 2026, and according to the previous regulations, he would have had to retire in March 2027 at the next general shareholders' meeting.

For this reason, the prevailing prediction was that even if Chairman Ham were reappointed, he would step down after only two years instead of the original three-year chairman term. However, with this amendment to the internal regulations, Chairman Ham will be able to fully complete his three-year term.