Korea Accounting Standards Board Appoints Two Non-Standing Members to the Accounting Standards Committee

The Korean Accounting Standards Board (KASB) announced on the 20th that "at the board meeting held on the 18th, two new members were appointed as successors to the non-standing members of the Accounting Standards Committee whose terms were expiring or who had resigned."

The newly appointed member, Dong-ik Lee (51), holds a bachelor's degree in Business Administration from Yonsei University and previously served as the head of the accounting department at Woori Financial Group. He worked at Samil Accounting Corporation and served as a member of the Accounting Research Committee of the Korean Institute of Certified Public Accountants. His term will be three years, from January next year until the end of 2027.

Jun-ki Hong (53) graduated from Seoul National University with a degree in Business Administration and is currently the head of the audit division at Samil Accounting Corporation. He has experience working at PwC San Jose office in the United States, serving as a council member of the Korean Institute of Certified Public Accountants, and as vice president of the Korean Accounting Association. His term will be three years, from March next year until the end of February 2028.

Established in 1999, the KASB is an independent private deliberation and decision-making body that establishes and revises Korean corporate accounting standards. It consists of a chairman, standing members, and seven non-standing members.