Coupang Pay Appoints Jeong Chan-mook, Former Financial Supervisory Service Official, as Vice President to Strengthen Compliance Management
Joining Coupang Pay, Coupang's Fintech Subsidiary
Expectations for Strengthened Compliance Management and Legal Risk Control
Coupang's fintech subsidiary Coupang Pay has appointed a financial regulation expert as Executive Vice President of Legal Affairs.
![Jang Chan-mook, Vice President of Coupang Pay [Photo by Coupang Pay].](http://www.asiae.co.kr/news/img_view.htm?img=2023080110341326184_1690853653.jpg)
On the 1st, Coupang Pay announced that it has appointed Jeong Chan-mook, former head of the Financial Regulation Group at the law firm Sejong and former official at the Financial Supervisory Service, as Executive Vice President in charge of Legal Affairs and External Cooperation at Coupang Pay. Recognized as an expert in financial regulation and fintech business, EVP Jeong will participate in all major decision-making related to Coupang Pay's legal and policy matters going forward.
Spun off from Coupang in April 2020, Coupang Pay focuses on improving customer payment convenience based on fintech technology. It has been praised for leading innovation in the payment industry by introducing a 'one-touch payment' system that completes payments with just a button press, utilizing a proprietary fraud detection system without requiring password input or fingerprint recognition.
Coupang Pay expects that EVP Jeong's joining will strengthen compliance management and legal risk control. EVP Jeong plans to lead compliance management by reviewing internal and external risk factors to ensure stable support for the business growth of small and medium-sized merchants, while guiding Coupang Pay to improve customer experience through continuous technological innovation and new service offerings.
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Before joining Coupang, EVP Jeong served as head of the Financial Regulation Group at the law firm Sejong. As a financial sector specialist lawyer, he gained experience and expertise in areas such as financial platform business, new business entry of financial companies, the Electronic Financial Transactions Act, governance and internal control of financial institutions. Prior to joining Sejong, he worked at the Financial Supervisory Service, handling supervisory and regulatory duties across various financial sectors including insurance, banking, and capital markets.
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