Tendering of resignations at card firms suspected as showoff

Of 37 executives and employees at KB Kookmin Card, Lotte Card, and NH NongHyup Card who had offered to resign to take responsibility for leaks of more than 100 million cases of private customer information, the president of NH NongHyup Card is found to be the only one that actually quit. The card companies cite ‘resolution of the crisis’ as the ostensible reason, but they apparently deserve criticism that the mass resignation was merely showoff aimed at avoiding massive criticism and public pressure.

According to sources in the financial industry on Wednesday, KB Financial Group has yet to accept resignations tendered by 27 executives including Kookmin Card President Shim Jae-oh, Kookmin Bank President Lee Geon-ho. A total of 10 executive directors at the vice present level or under at KB Financial Group, eight executives under the president at Kookmin Bank, and nine executives under the president at Kookmin Card offered to resign on Monday last week. KB Financial Group Chairman Lim Yeong-lok said, “I will selectively accept resignations from those who are responsible,” but has yet to take follow-on measures after as many as 10 days since.

Insiders and outsiders of the financial industry criticize that the financial firms are not taking action by making excuse with resolution of the crisis, while checking the mood at the presidential office. When the presidential office is said to have the judgment that “resigning from their posts without taking responsibility is a move only meant to avoid criticism,” the firms reportedly suspended processing of resignations. A source at the financial industry said, “People who understood that those bank officials are resigning would be confused.”