South Korea's DGB Financial Group Co. Ltd. has cancelled the nomination of Kang Myun-wook as CEO of unit DGB Asset Management Co. Ltd., FNTIMES reported Jan. 3, citing group CEO Kim Tae-oh.

DGB Asset Management has been included in the government's list of companies restricted from hiring former government officials due to conflict of interests, effective Jan. 1, according to FNTIMES.

Kang served as chief investment officer of South Korea's National Pension Service from February 2016 to July 2017.

DGB Financial Group had planned to make Kang's appointment official at a shareholders meeting on Dec. 31, 2018.