KSD Union: "Rumors of President Nomination Unrelated to Capital Market... Urging Reannouncement"

Rumors of Lee Sun-ho, Former Yoon Presidential Campaign Member, Being Appointed as Head of Banking Research at the Korea Institute of Finance

[Asia Economy Reporter Minji Lee] As the procedure for appointing the new president of the Korea Securities Depository is underway, the labor union has called for a re-announcement of the presidential recruitment. This follows rumors that a candidate from President Yoon Seok-yeol's election camp has been pre-selected.

Korea Securities Depository Seoul Yeouido Building

On the 7th, the Korea Securities Depository labor union stated in a press release, "Mr. Lee Sun-ho, who was pre-selected for the president position through a 'friend chance,' should withdraw his application for the president of the Depository, and the Executive Recommendation Committee (ERC) should halt all ongoing procedures and restart the presidential candidate recruitment."

To this end, the union announced that internal candidates for the president position have decided to withdraw their applications. The currently mentioned candidate is Lee Sun-ho, head of the Banking Research Division at the Korea Institute of Finance. Mr. Lee participated as a member of the economic think tank in President Yoon's election camp and served as a non-standing advisory member of the Presidential Transition Committee.

The union argued, "The Korea Securities Depository is currently conducting the 23rd new president appointment process through the ERC, so what is this talk of pre-selection?" and added, "'Friend chance,' which attempts to use public office for private gain, is not the 'fairness' of the Yoon Seok-yeol administration."

They continued, "Mr. Lee, known as a banking law expert, is completely unrelated to the Depository’s main tasks in the capital market and is merely an unknown researcher with no administrative experience or experience in personnel, budget, or supervisory duties within an organization," and emphasized, "The president position of the Depository, which manages 5000 trillion won of the public’s capital market assets and is celebrating its 50th anniversary, is not a place for practice."

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