Financial Supervisory Service Governor Lee Chan-jin called for stricter oversight of chief executive succession at financial holding company subsidiaries, saying existing procedures often lack transparent and fair standards. Speaking at an FSS executive meeting on September 15, Lee cited vague qualification requirements, limited vetting periods, nominal candidate pools, opaque shortlisting and a limited role for subsidiary nomination committees. The remarks came after KB Financial Group selected Lee Jae-keun as its next chairman and as financial groups prepare for a broad year-end reshuffle. The FSS said it was not targeting a specific company. Across the five major financial groups, 54 affiliate CEO terms expire by year-end, while 56 of 69 affiliates, or about 81%, face expirations. The regulator said the eight banking holding companies took an average of 45 days to select final candidates, with in-person assessment limited to one interview, compared with global companies that identify candidates one to two years ahead and use multiple evaluations and interviews. The FSS intervention comes as legislation tied to the government’s financial-governance overhaul remains stalled and President Lee Jae-myung has criticized entrenched control at financial firms.