On December 17, the Financial Services Commission announced that Choi Joongkyung, former Minister of Knowledge Economy, has been appointed as a board member of the International Financial Reporting Standards (IFRS) Foundation.
Choi, the newly appointed board member, was selected as the representative director for the Asia-Pacific region, succeeding Lee Seokjun (January 2023-December 2025). His term will begin in January next year and will last for three years. With this appointment, Korea has produced a domestic representative for the Asia-Pacific region for the fourth consecutive term.
Choi is a certified public accountant and has previously served as First Vice Minister of the Ministry of Finance and Economy, Minister of Knowledge Economy, and President of the Korean Institute of Certified Public Accountants.
Chung Kyung Choi, Chairman of the Korea-America Association, attended the Korea-US Industrial Cooperation Conference held at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul on April 15, delivering the opening remarks. Photo by Dongju Yoon
He also possesses a strong international network, having served as Executive Director at the World Bank, Ambassador to the Philippines, Chairman of the Korea-America Association, Advisor to the Korea-US Alliance Foundation, and Ambassador for International Investment Cooperation.
An official from the Financial Services Commission stated, "We plan to actively communicate the voices of stakeholders in the Korean capital market to the international community on current issues such as the establishment of international accounting standards and sustainability disclosure standards."
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