Lee Geun-ju, Director of the Simple Payment Promotion Agency, Appointed as President of the Korea Fintech Industry Association

Geunju Lee, Newly Appointed President of the Korea Fintech Industry Association

[Asia Economy Reporter Bu Aeri] The Korea Fintech Industry Association announced on the 17th that it has elected Lee Geun-ju, President of the Korea Easy Payment Promotion Agency, as its 4th president.

The association held its regular general meeting at the President Hotel in Seoul on the same day and elected President Lee as the new chairman. The association conducted an online election over two days starting from the 16th, and the voting results showed that the new chairman received the highest number of votes.

The new chairman's term begins on the 18th and lasts for two years.

President Lee previously served as head of the Smart Finance Department at IBK Industrial Bank, director of the Fintech Industry Association's establishment preparation office, head of the Small Business Easy Payment Promotion Team, chairman of the Zero Pay SPC establishment preparation committee, and is currently serving as president of the Korea Easy Payment Promotion Agency.

In his inaugural speech, the new chairman emphasized the growth of the fintech industry through regulatory innovation and cross-industry exchange. He stated, "The passage of the Electronic Financial Transactions Act (EFT Act) amendment, expansion of the MyData service area, and reasonable relaxation of network separation regulations are extremely urgent."

During the regular general meeting, the association also elected four new vice-chair companies: Newzistock, Centbee, Zoom Internet, and Foblegate, as well as two new directors: Payment and Push.

Meanwhile, the former chairman, Ryu Young-jun, CEO of Kakao Pay, left his position earlier than his term, which was supposed to last until April. In December last year, CEO Ryu faced criticism amid a 'runaway controversy' after he and other executives sold a large volume of Kakao Pay shares acquired through stock options. Originally slated to become the new CEO of Kakao, Ryu voluntarily resigned from the CEO position at Kakao as well.

This content was produced with the assistance of AI translation services.