The Gold Investment Association Chairman Election Kicks Off... Starting with Candidate Recruitment Announcement

Candidate Recruitment Announcement Possibly Next Week
"Final Candidate Selection Expected in Early to Mid-December"

Photo by Moon Honam, Korea Financial Investment Association, Yeongdeungpo-gu, Seoul. munonam@

[Asia Economy Reporter Hwang Yoon-joo] The Korea Financial Investment Association is expected to announce the call for candidates for the 6th president election as early as next week.

According to industry sources on the 13th, considering the schedule of previous Financial Investment Association elections, the Association's Candidate Recommendation Committee (CRC) is expected to issue the call for candidates next week and begin the election process. The call for candidates for the 5th president election was from Tuesday, November 19, 2019, to Wednesday, December 4, 2019.

The next president will be elected through the process of call for candidates - first document screening - second interview - final candidate selection - member company voting. Candidates must receive recommendation letters from at least three member companies to register as candidates. After document screening, the CRC conducts interviews. Once the CRC narrows down the final candidates through interviews, member companies elect the next president by voting.

Since the CRC effectively decides the final candidates, its influence is greater than expected. The reason the Financial Investment Association has not disclosed the CRC members is due to concerns over fairness controversies.

The CRC consists of five members: three public interest directors from the Financial Investment Association's board and two external members. Currently, there are six public interest directors at the Financial Investment Association: Kim Young-gwa, former president of Korea Securities Finance Corporation; Kang Seok-won, lawyer at Jeonmang Law Office; Jang Beom-sik, professor at Soongsil University; Kim Chang-bong, professor at Chung-Ang University; Seo Tae-jong, director of the Korea Institute of Finance; and Cheon Sang-hyun, lawyer at Hwanghae Law Firm. Among them, three participate in the CRC.

The financial investment industry expects that candidates will be finalized by the end of this month or early December, followed by the first document screening and second interview. A Financial Investment Association official said, "We understand that the final candidates will be selected by early to mid-December, and the election will be held at the end of December," adding, "The specific schedule will not be disclosed in advance to ensure election fairness and will be announced by the CRC according to principles."

Meanwhile, the candidates who have expressed their intention to run for the next president include six individuals: Seo Myeong-seok, former CEO of Yuanta Securities; Jeon Byung-jo, former CEO of KB Securities; Kim Hae-jun, former CEO of Kyobo Securities; Seo Yoo-seok, former CEO of Mirae Asset Global Investments; Koo Hee-jin, former CEO of Daishin Asset Management; and Kang Myeon-uk, former head of the National Pension Service Fund Management Headquarters.

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