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Woori Bank CEO Jung Jin-wan has secured a one-year extension of his term, becoming the first among the heads of Korea's five major commercial banks whose terms expire at the end of this year to win another term, the Korea Times reports. The decision comes as the financial regulator on Nov. 11 unveiled steps to boost fairness and transparency in CEO selection for bank holding firms, according to Yonhap. Korean media and financial circles are closely watching the moves of other major bank chiefs whose terms also expire this year, with the regulator's new guidelines expected to shape upcoming succession decisions.