Jeong Junghoon, Former Director General at the Ministry of Economy and Finance, Nominated as New KAMCO President

Jeong Junghoon, former Director General of the Tax Bureau at the Ministry of Economy and Finance, has been selected as the candidate for the new president of Korea Asset Management Corporation (KAMCO).

On April 29, KAMCO announced that it had held an extraordinary general meeting of shareholders and selected Jeong as the candidate for the next president. The final appointment process will proceed through a recommendation by the Chairman of the Financial Services Commission, followed by the acting president's official appointment.

This is the first time in six years that a former official from the Ministry of Economy and Finance has been appointed as president of KAMCO, a state-run financial corporation, since Moon Sungyu, the former president and former Director General of Planning and Coordination at the ministry. The term of the current president, Kwon Namjoo, expired in January of this year, but the appointment process was delayed due to the ongoing political turmoil surrounding the impeachment situation.