The new head of KB Financial, South Korea's second-largest banking group, said Wednesday that he will hold the dual posts of chairman and bank president for the time being so as to strive for stability in the conglomerate that has been rocked by internal conflict.

   In a meeting with reporters right after holding talks with members of the board, Yoon Jong-kyoo stressed that it's necessary for him to keep the two posts, so the banking group can overcome its past troubles and concentrate on moving forward.

   "This arrangement can speed up the smooth management succession process and better stabilize the group," the top executive claimed.

He stressed that stability is the key to reviving customer confidence and strengthening the competitiveness of the group as a whole.

   "I've already sent messages to all employees asking them to focus on achieving tangible results this year," he said.

   Yoon was tapped last week after his predecessor, Lim Young-rok, resigned and Kookmin Bank president Lee Kun-ho engaged in an embarrassing, mud-slinging duel over the running of the group's flagship lender and an expensive computational system change. The internal conflict caused a rift in the banking group that the new chairman must mend as soon as possible.

   The chairman then stressed that he will root out all forms of favoritism in promotions, and that in the future all posts will be filled by those that are the most qualified. The remarks come as allegations of personal ties and networking played a role in promotions in the past.

   "Anyone who tries to ask for the promotion of an employee will find themselves at a disadvantage in postings," he warned.

   On the issue of the takeover of LIG Insurance, Yoon said that state regulators will soon examine the merger. He said that once permission is given, measures will be taken to incorporate the insurer into the group's fold as quickly as possible. (Yonhap)