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DGB Financial appoints new CEO

DGB Financial Group Co. Ltd. on May 31 appointed Kim Tae-oh CEO, FNTIMES reported.

Kim, the former CEO of Hana Life Insurance Co. Ltd., fills the post vacated by Park In-gyu who resigned in April amid a criminal investigation into embezzlement and other charges against him. His appointment was approved by the group's board and shareholders.

Kim started his three-year term at DGB Financial by pledging a renewed push for the group's planned acquisition of a majority stake in HI Investment & Securities Co. Ltd. from Hyundai Heavy Industries Co. Ltd. The deal was announced in late 2017 but South Korean regulators have put on hold regulatory clearance for the deal due to governance issues at the group.