Korea Credit Information Appoints Former Customs Service Commissioner Yoon Tae-sik as New Board Chairman

"Leveraging Public Service Experience to Establish Innovative Financial Services of KCS within the Regulatory Framework"

Korea Credit Information Services (KCS), a credit rating agency for sole proprietors, announced on the 25th that it has appointed Yoon Tae-sik, former Commissioner of the Korea Customs Service, as the chairman of its board of directors.

Yoon Tae-sik, chairman of the KCS board, is an expert in international finance and taxation who has held key positions during his tenure at the Ministry of Economy and Finance. He has worked as head of the International Organizations Division, Trade Policy Division, Foreign Currency Funds Division, and International Finance Division. At the Presidential Office, he served as a senior administrative officer in the Economic and Financial Secretary’s Office. He also worked as an economist at the Organisation for Economic Co-operation and Development (OECD) and the International Monetary Fund (IMF). As a director at the Ministry of Economy and Finance, he held positions such as Director of the Development Finance Bureau, spokesperson, Director of the International Finance Bureau, and Director of the Policy Coordination Bureau. In 2020, he was promoted to International Economic Management Officer (Deputy Minister for International Affairs), served as head of the Taxation Office, and was appointed Commissioner of the Korea Customs Service in 2022. He was selected three times as the “Boss to Emulate” by Ministry of Economy and Finance employees and was inducted into the Hall of Fame.

Yoon Tae-sik, New Chairman of the Board at Korea Credit Service (KCS)

Chairman Yoon stated upon taking the position at KCS, “In the post-endemic era, small business owners and sole proprietors are facing a challenging environment due to geopolitical uncertainties, climate change, and inflation triggered by high interest rates. To overcome these crises, the spread of innovative financial services is necessary. Drawing on my extensive public service experience, I will help ensure that innovative financial services based on the differentiated data provided by KCS are delivered to sole proprietors through more institutional financial channels.”

KCS offers a service that allows business owners to check their credit rating within three minutes simply by authenticating through Hometax. It also provides a function to pre-assess eligibility and likelihood of success before applying for various policy funds. In March, KCS attracted a total investment of 5 billion KRW from three companies: DGB Daegu Bank, IBK Industrial Bank of Korea, and Korea Credit Data (KCD). Representative financial institutions frequently used by small business owners and sole proprietors, such as KakaoBank, SGI Seoul Guarantee, KB Kookmin Bank, Hyundai Capital, JB Jeonbuk Bank, and Welcome Savings Bank, also participate as shareholders of KCS.

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