Standard Chartered Bank Korea has chosen Lee Kwang-hee, the current managing director and executive vice president, to take over as the new CEO. Lee, known for his expertise in corporate banking, will be succeeding the current CEO, Park Jong-bok. The decision came after a thorough evaluation of leadership qualities, alignment with the bank's vision, efforts to advance public interest, and effective business administration, as stated by the bank's executive candidate recommendation committee. Among the nominees, Lee received the highest evaluation due to his professional and global experience, exceptional leadership, and strong communication skills, as highlighted by the committee. With a bachelor's degree in Economics from Wesleyan University and a master's degree in business administration from the University of Chicago, Lee brings with him a wealth of knowledge and experience from his previous roles at global investment companies, including Merrill Lynch International and UBS Securities. During his time as managing director, Lee contributed to SC Bank Korea's strong operating profits and robust returns on tangible equity through strategic profit growth and effective asset quality management. The appointment of Lee will be officially confirmed on Sept. 27, subject to approval from shareholders and board meetings, and his three-year term will commence on Jan. 8. Meanwhile, the outgoing CEO, Park Jong-bok, will conclude his 10-year leadership at the bank on Jan. 7, after which he will continue to provide advisory services to the bank. Park was the first Korean national CEO of the bank after its acquisition by the London-based banking giant in 1999, and his tenure saw the bank achieve profitability within a year of his appointment.