Daishin Securities Appoints Vice Chairman Yang Hong-seok as Board Chairman... Enters 'Third-Generation Management'

Yang Hong-seok, Vice Chairman of Daishin Financial Group and third-generation descendant of the founder of Daishin Securities (42), has been appointed as the chairman of the Daishin Securities board of directors.

Yang Hong-seok Vice Chairman of Daesin Financial Group

According to Daishin Securities on the 30th, Vice Chairman Yang was elected as the chairman of the board at the regular shareholders' meeting held on the 24th. Lee Yeo-ryong, Vice Chairman Yang’s mother and the former chairman of the board, stepped down from both her position as an inside director and chairman of the board as her term ended at the end of this month. Although she is stepping back from day-to-day management, she will retain her position as group chairman and is expected to focus on social contribution and environmental, social, and governance (ESG) management.

Born in 1981, Vice Chairman Yang is the grandson of Yang Jae-bong, the honorary founder of Daishin Securities. After graduating with a bachelor's degree in business administration from Seoul National University, he joined Daishin Securities and rose through the ranks from executive director to vice president and president, before being promoted to vice chairman last year. Vice Chairman Yang is the largest shareholder of Daishin Securities, holding 10.19% of the shares.

Following Chairman Lee’s resignation, Song Hyuk, Vice President in charge of retail at Daishin Securities, was appointed as an inside director to fill the vacant board seat. The Daishin Securities board has been reorganized into a structure consisting of three inside directors?Vice Chairman Yang, CEO Oh Ik-geun, and Vice President Song Hyuk?and five outside directors.