Suhyup Bank’s CEO Recommendation Committee failed to select a candidate after incumbent CEO Shin Hak-gi received three votes and Korea Financial Intelligence Unit Commissioner Lee Hyung-joo received two, below the four-vote threshold required for confirmation. The committee interviewed six applicants in Seoul on September 21 before voting at 1:30 p.m. on September 22. It plans to hold another vote among the existing candidates after the Chuseok holiday rather than recruit new applicants. The five-member committee comprises three outside directors recommended by the Ministry of Economy and Finance, the Ministry of Oceans and Fisheries and the Financial Services Commission, plus two figures recommended by the National Federation of Fisheries Cooperatives. Shin is seeking the bank’s first CEO reappointment since it became a separate legal entity in 2016, supported by growth in assets, earnings and non-banking businesses. Lee is campaigning on his financial-policy and supervisory experience as the incumbent FIU commissioner. A candidate selected by the committee must receive approval from the Suhyup Bank board, the National Federation of Fisheries Cooperatives board and a shareholders’ meeting, with formal appointment planned in October. Shin’s current term runs through November 17.