Ask what Korea is talking about.

The government and the ruling Democratic Party agreed on Thursday to tighten requirements for reappointing chief executives of bank holding companies, Yonhap and the Korea Times report. Under the plan, a CEO seeking a third consecutive term would need at least 75% approval from shareholders, and the executive nomination committee would consist entirely of independent directors. The regulator unveiled the steps on Thursday to boost fairness and transparency in CEO selection, also aiming to curb incumbent CEOs' undue influence over choosing their successors. Korean media, including the Korea Economic Daily, are covering the agreement as a sweeping corporate governance overhaul for the banking sector.