KOFIA Forms Nomination Committee After Chairman Election... Candidate Recruitment Notice by End of This Month

Recruitment of Candidates for the 6th President Soon
Three Candidates Selected for Voting in December

[Asia Economy Reporter Hwang Yoon-joo] The election for the next chairman of the Korea Financial Investment Association has officially begun. Candidate registration will be completed by the end of November, and three final candidates will be selected for voting in early to mid-December.

On the morning of the 9th, the Korea Financial Investment Association held an extraordinary board meeting at an undisclosed location in Seoul and formed a Candidate Recommendation Committee (CRC) for the 6th chairman election. The CRC consists of five members: three public directors from the board and two external members.

A representative of the association stated, "To ensure the fairness of the chairman election, the composition of the CRC and detailed information will not be disclosed."

At this meeting, the board decided to complete candidate registration by the end of November and finalize the three candidates by mid-December at the latest. The final candidates will be selected through a public call for candidates, a first round of document screening, and a second round of interviews. The vote is likely to take place on December 23.

The election will be conducted through voting by member companies. There are a total of 385 members, including 59 securities firms, 308 asset management companies, 4 futures companies, and 14 real estate trust companies. Once a general meeting is established with a majority of regular members present, voting will proceed, and a candidate must receive the approval of the majority of voting rights present to be elected chairman. The term of office is three years.

So far, six candidates have expressed their intention to run: Seo Myeong-seok, former CEO of Yuanta Securities; Jeon Byeong-jo, former CEO of KB Securities; Kim Hae-jun, former CEO of Kyobo Securities; Seo Yoo-seok, former CEO of Mirae Asset Global Investments; Koo Hee-jin, former CEO of Daishin Asset Management; and Kang Myeon-uk, former Chief Investment Officer (CIO) of the National Pension Service Fund Management Headquarters.