Acceptance of CEO Hwang Hyun-soon's Resignation... Eom Ju-seong Vice President Appointed as Next CEO of Kiwoom Securities

Kiwoom Securities has appointed Um Ju-seong, head of the Strategic Planning Division (Vice President, photo), as the new CEO. Since Vice President Um is not a registered executive, an extraordinary general meeting of shareholders will be held in early January to first approve the agenda for appointing him as an inside director. Vice President Um is regarded as the right person for crisis management, having closely observed the recent crisis faced by the company while serving as a bridge between Kiwoom Securities and the DaouKiwoom Group.

On the 28th, Kiwoom Securities held a board meeting where it accepted the resignation of CEO Hwang Hyun-soon and convened the Executive Nomination Committee to appoint Vice President Um Ju-seong as the new CEO. CEO Hwang had previously communicated his intention to resign to the board on the 9th, taking moral responsibility for the large-scale unpaid receivables related to Youngpoong Paper.

Born in 1968, Um graduated from Yonsei University with a degree in Applied Statistics and earned a master's degree from the KDI School of Public Policy and Management. He joined Daewoo Securities in 1993 and became part of Kiwoom Securities in 2007. He has held key positions such as head of the Investment Management Division and head of the Strategic Planning Division. The industry evaluates him as a leader with a gentle leadership style that encompasses the entire organization.

Recently, with the large-scale unpaid receivables arising from the Youngpoong Paper limit-down incident, Kiwoom Securities' risk management capabilities have come under scrutiny, and Vice President Um is also regarded as the right person for risk management. It is reported that he developed expertise in risk management through hands-on experience as an in-house expert in proprietary investment (PI).

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