Jung Sung-woong, Former Vice President of Korea Evaluation Data, Appointed as President of Korea Asset-based Finance Association

"Build Image by Changing Industry Name"

[Photo by Korea Asset Finance Association]

The Korea Financial Services Association, representing private lenders, announced on the 29th that Jeong Seong-ung, former Vice President of Korea Credit Data, has been appointed as the new chairman.

Born in 1962, Chairman Jeong served as Director of Public Relations, Director of Mutual Finance Inspection, Senior Director of the Illegal Finance Response Team, and Deputy Director in charge of consumers at the Financial Supervisory Service.

Chairman Jeong stated, "We will change the name of the industry to dispel the distrust that private lending is synonymous with informal finance and build an image that aligns with the industry's true role. We will closely communicate with member companies and establish systems and regulatory frameworks that enhance effectiveness."

Chairman Jeong will begin his term today (29th) and will serve as chairman for the next three years.