Final Candidates for KOFIA Election... Kim Hae-jun, Seo Myung-seok, Seo Yoo-seok Compete

Voting to be Held at the End of This Month's General Membership Meeting

[Asia Economy Reporter Hwang Yoon-joo] The next president of the 6th Financial Investment Association will be contested by Kim Hae-jun, former president of Kyobo Securities, Seo Myung-seok, former president of Yuanta Securities, and Seo Yoo-seok, advisor at Mirae Asset Global Investments.

On the 12th, the Financial Investment Association's Presidential Candidate Recommendation Committee selected three candidates for the next president: Kim Hae-jun, former president of Kyobo Securities; Seo Myung-seok, former president of Yuanta Securities; and Seo Yoo-seok, advisor at Mirae Asset Global Investments.

Earlier, in the first round of document submissions which closed on the 30th of last month, six candidates registered, including these three, as well as Jeon Byung-jo, president of KB Securities; Koo Hee-jin, former president of Daishin Securities; and Kang Myeon-wook, former head of the National Pension Service Fund Management Headquarters.

Kim Hae-jun, former president of Kyobo Securities, is regarded as a "wise leader." He hails from Jangheung, Jeollanam-do, and graduated from Jangheung High School and Chonnam National University with a degree in economics. He joined Daewoo Securities (stock code: 006800), known as the "securities officer academy," in 1983 and worked there for 21 years. Afterwards, he moved to Kyobo Securities, where he stayed for 16 years, dedicating a total of 37 years to the securities industry. Notably, at Kyobo Securities, he set the record as the longest-serving CEO, holding the position for 13 years starting in 2008. Kim is well known for maintaining good relationships across the industry without making enemies.

Seo Myung-seok, former president of Yuanta Securities, served as head of the research center before becoming CEO during his tenure at Yuanta Securities. He was recognized as an "ace" among first-generation analysts, excelling in corporate and market analysis. Born in Seoul, he graduated from Chung-Ang High School, Sogang University with a degree in business administration, and earned an MBA from Korea University. He was also actively involved in the Yeouido gathering "Chungyeohoe," composed of alumni from Chung-Ang High School, the alma mater of President Yoon Seok-yeol.

Seo Yoo-seok, advisor at Mirae Asset Global Investments, is the only candidate with experience in both securities firms and asset management companies. He is from Nonsan, Chungcheongnam-do, graduated from Paichai High School and Korea University with a degree in economics, and earned a master's degree in financial management from Korea University Graduate School of Business.

He worked at Korea Investment Trust (now Hana Securities) before moving to Mirae Asset Securities in 1999. From 2011, he served as president of Mirae Asset MAPS Asset Management, and in 2012, he became head of the Exchange-Traded Fund (ETF) division at Mirae Asset Global Investments. In 2016, he was appointed CEO of Mirae Asset Global Investments and led the company for five years. He played a leading role in popularizing funds during the fund boom in 2005 and spearheaded the early market for retirement pension business when it was first introduced. He is also credited with creating the golden era of ETFs at Mirae Asset Global Investments.

The next president of the Financial Investment Association will be elected through a vote at the general meeting of members. The voting date is scheduled for the 23rd. Currently, there are 376 regular member companies with voting rights, including 59 securities firms, 299 asset management companies, 14 real estate trust companies, and 4 futures companies.

Voting is conducted directly by executives at the president level, and voting rights vary proportionally according to the contribution ratio. The term of the next association president will be three years, starting from January 2023.