Next Capital Research Institute Director Appointment Postponed to November

by Hwang Yoonju

Published 23 Oct.2024 14:25(KST)

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Next Capital Research Institute Director Appointment Postponed to November

The appointment of the next head of the Capital Market Research Institute is being delayed. Since the successor is selected through a public recruitment process, there is a consensus that caution must be exercised to avoid procedural issues, and it is reported that the decision will be made in November.

According to the financial investment industry on the 23rd, the Capital Market Research Institute's candidate recommendation committee completed the document screening for the 9th head's public recruitment last September. It is known that interviews were also completed this month.

The recommendation committee planned to decide on the successor by October, as Director Shin Jin-young's term ended on September 30. However, it is reported that the successor has not yet been decided.

A financial investment industry official explained, "The Capital Market Research Institute had previously appointed directors through endorsement, which repeatedly sparked 'parachute' controversies. In 2021, the director selection was changed to a public recruitment method for the first time, and since this is the second appointment, it seems they are being cautious to ensure there are no procedural problems."

However, some speculate that this delay might be to avoid drawing attention during the National Assembly audit period. This is because the person mentioned as the successor is Kim So-young, Vice Chairman of the Financial Services Commission, who was a classmate in the Economics Department at Seoul National University, class of '86. Currently a university professor, he participated in President Yoon Seok-yeol's 2021 presidential campaign alongside Vice Chairman Kim.

The term of Shim In-sook, head of the Korea ESG Standards Institute, also expired on the 21st, but the successor is expected to be decided in November. The ESG Standards Institute elects its head through a general meeting of members. The next director is also reportedly likely to be a professor with ties to Vice Chairman Kim.