Samil Accounting Likely to Elect Yoon Hoon-soo as New CEO

30 Years of Gratitude, Sole Election

Interview_Yoon Hoonsoo, Head of Audit Division at Samil PwC./Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Ji-hwan Park] Yoon Hoon-soo, head of the Audit Division at Samil PwC, is expected to be elected as the Chief Executive Officer (CEO) of Samil PwC. Initially, the firm attracted attention for potentially having its first CEO election by vote in its 50-year history, but with Bae Hwa-joo, head of the Financial Advisory Division, withdrawing her candidacy, Yoon was nominated as the sole candidate.

On the morning of the 28th, Samil PwC will hold a vote involving about 300 partners to decide whether to approve candidate Yoon Hoon-soo. Then, at 2 p.m., the general meeting of partners will hold a final vote to confirm Yoon’s appointment as CEO. On the 24th, the Samil PwC CEO Nomination Committee announced Yoon and Bae as candidates to succeed the current CEO Kim Young-sik, whose term ends in June. However, concerns were raised that electing a CEO through a vote could divide internal support within the organization and leave internal aftereffects such as challenges to organizational unity even after the election.

On the 24th, the Samil PwC CEO Nomination Committee announced Yoon and Bae as candidates to succeed the current CEO Kim Young-sik, whose term ends in June. However, concerns were raised that electing a CEO through a vote could divide internal support within the organization and leave internal aftereffects such as challenges to organizational unity even after the election. Since its establishment in 1971, Samil PwC has selected CEOs through a method where the incumbent nominates the successor, precisely to avoid such issues.

A representative of Samil PwC explained, "To end controversies such as internal conflicts, Bae expressed her intention to resign on the afternoon of the previous day, stating 'I will resign for the unity and development of Samil PwC,' leading to Yoon being nominated as the sole candidate."

Candidate Yoon was born in 1965 and graduated from Seorabeol High School in Seoul and Seoul National University with a degree in Business Administration. He also earned a master's degree in Business Administration from the same university. He joined Samil PwC in 1987 and has been known as an 'audit expert' who has dedicated over 30 years exclusively to audit work.

Since 1994, he has conducted audits for numerous Silicon Valley companies at PwC’s San Jose office in the United States. He later served as a leader in U.S. Initial Public Offerings (IPOs), specializing in the listing of Korean companies on the U.S. stock market, and has handled accounting audits for leading Korean global companies such as Samsung Electronics. In 2004, he also served as a member of the Accounting Standards Advisory Committee at the Korea Accounting Standards Board. Even after Samil PwC underwent restructuring in 2010, he steadily advanced his career. In 2017, he was appointed head of the Audit Division as a savior to prevent a decline in audit division revenue. The new CEO’s term will be three years, until 2023.

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