SBI Investment Appoints Former Samsung Executive Jae-kwang Ahn as New CEO

Executive Director An Jaegwang, Former Samsung Electronics, Promoted to President Choo Jongseo in March
Attention on Future Position of Current CEO Lee Junhyo

[Asia Economy Reporter Kwangho Lee] The head of venture capital (VC) SBI Investment is being replaced. Former Samsung Electronics executive Jaegwang Ahn has been appointed as the new CEO. Upon his appointment as CEO, Ahn will be promoted to president. He will lead the company alongside existing co-CEO So Woo Aihiro.

SBI Investment recently held a board meeting and appointed Executive Director Ahn as the new co-CEO, succeeding CEO Junhyo Lee. CEO Junho Lee, who has served since 2018, announced his intention to resign due to personal reasons. This appointment will be finalized at the regular shareholders' meeting scheduled for the end of March.

At the regular shareholders' meeting at the end of March, SBI Investment plans to propose a resolution to appoint Executive Director Jaegwang Ahn as an inside director. After the resolution to appoint him as an inside director is approved, the board will appoint him as CEO.

Born in 1977, the new CEO Ahn was responsible for mobile phone marketing and overseas public relations at Samsung Electronics. He joined SBI Investment in 2010 and became a venture capitalist. At that time, the company was known as Korea Technology Investment Corporation (KTIC). Although KTIC was a prestigious firm that formed Korea's first venture investment association in 1987, it went through a difficult period due to disputes. Later, it was acquired by Japan's SBI Financial Group and renamed SBI Investment.

CEO Ahn has discovered investment opportunities across various industries including bio-healthcare, materials/components/equipment, ICT services, and content. The cumulative number of investments (excluding follow-ons) is about 50. The total investment amount reaches 200 billion KRW. CEO Ahn currently serves as the lead fund manager and key operator for over 10 funds, including the '2022 SBI Innovation Growth Fund' and the 'SBI-Growth Ladder KONEX Activation Fund No. 2.'

CEO Lee, who led SBI Investment's steady progress, is leaving the company after 13 years. He joined SBI Investment in 2011, served as head of the investment division, and played a major role in the company's growth. As a result, the assets under management (AUM) exceeded 1 trillion KRW in 2019. Recognizing these achievements, he was appointed co-CEO in 2018.

The industry is showing great interest in CEO Lee's future plans. Some speculate that he may move to a subsidiary of ORChem, a chemical materials company invested in by SBI Investment.

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