Kim Juhyun: "Transparent Accounting is the Foundation for Fair Capital Market Development"

Financial Services Commission Holds 'Accounting Day' Commemoration Ceremony

Financial Services Commission Chairman Kim Joo-hyun. Photo by Hyunmin Kim kimhyun81@

Kim Juhyun, Chairman of the Financial Services Commission, stated on the 31st, "Transparent accounting is the starting point of a trusted company, and the deep trust built this way forms the foundation for the development of a fair capital market."

At the 6th Accounting Day ceremony held in Yeouido, Seoul, that afternoon, Chairman Kim said, "We will continue to improve the quality of audit services and find ways to rationalize the burden on companies in the process."

Accounting Day has been held since 2018 under the auspices of the Korean Institute of Certified Public Accountants to commemorate the new External Audit Act enacted in 2017. In 2021, it was designated as a statutory commemorative day through the revision of the External Audit Act. Every year, the ceremony awards individuals who have contributed to enhancing accounting transparency in Korea.

Chairman Kim explained, "It is no coincidence that the English word 'accounting,' when used as a verb, means 'to explain' or 'to be responsible.' The Financial Services Commission institutionally supports the production of high-quality accounting information that accurately explains and takes responsibility for the economic substance of companies."

He continued, "Today's slogan is 'Transparent Accounting, Trusted Companies, Fair Capital Markets,'" expressing his respect to business sectors, accounting professionals, related organizations, and academia who have worked hard for accounting advancement.

Meanwhile, this year’s government awards included one recipient of the Green Stripes Order of Service Merit, one recipient of the National Medal, three recipients of the Presidential Citation, and three recipients of the Prime Minister’s Citation, totaling eight people. The Financial Services Commission Chairman’s Citation was awarded to 22 individuals. Additionally, a total of 87 awards and citations were given, including one Speaker of the National Assembly Commendation, 15 Deputy Prime Minister’s Citations, five Board of Audit and Inspection Chairman’s Citations, four Minister of the Interior and Safety Citations, 20 Commissioner of the National Tax Service Citations, and 12 Financial Supervisory Service Governor’s Citations.