Five new outside director candidates for Woori Bank are up for nomination at a Dec. 30 shareholder meeting.

The five nominees are Ro Sung-tae, Shin Sang-hoon, Park Sang-yong, Chang Dong-woo and Tian Zhiping. They were recommended by new institutional shareholders of the bank that recently bought 4% stakes in the South Korean lender.

Shin is a former CEO and president of Shinhan Financial Group Co. Ltd., while Park is a former chairman of the Public Fund Oversight Committee, a government arm overseeing the sale of stakes in Woori Bank.