Korea Exchange Appoints Han Goo, Former FSS Deputy Governor, as Head of Derivatives Division

The Korea Exchange has appointed a former Deputy Governor of the Financial Supervisory Service as the new Head of the Derivatives Market Division.

On May 13, the Board of Directors of the Korea Exchange held an extraordinary general meeting at its Yeouido headquarters in Seoul and approved the appointment of Han Goo, former Deputy Governor of the Financial Supervisory Service, as the next Head of the Derivatives Market Division (Vice President).

The Head of the Derivatives Market Division also serves as an executive director on the board and will participate in the management of the exchange.

However, the exchange's labor union is opposed to Han's appointment. The union argued, "Appointing a former Financial Supervisory Service official who has no experience in the derivatives market is an example of the financial authorities' cartel abusing its power."

In addition, the exchange also approved the appointment of three outside directors representing the public interest.

Shin Yong-sang, Senior Research Fellow at the Korea Institute of Finance, and Seok Won-hyuk, former CEO of Smart Media Lab, were nominated. Professor Shin Hyun-han from Yonsei University's School of Business will also serve on the Audit Committee. The term of office is three years.