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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kiwoom Securities held a temporary board meeting on the 28th and finally accepted the resignation of CEO Hwang Hyun-soon. Um Joo-sung, vice president of strategic planning, was appointed as the next CEO.
Hwang Hyun-soon was appointed CEO of Kiwoom Securities at the end of 2021. He was re-elected in March this year after completing his one-year term. Hwang, who joined Kiwoom Securities since its foundation in 2000, has served as head of the Chinese subsidiary, head of the investment management division and head of the strategic planning division. He has been the head of the group's strategic management office since 2016.
This year, a series of unfavorable factors surrounding Kiwoom Securities have emerged, highlighting the responsibility for Hwang.
Including the "Ra Duk-yeon case," which abused the difference payment transaction (CFD) in April, former chairman Kim Ik-rae was suspected of being involved in stock price manipulation by selling 1.4 million shares (3.56%) of Dow Data shares as a block deal just before the "lower limit" from SG Securities. It was followed by the Youngpoong Paper incident.
Hwang delivered his intention to resign to the board of directors on the 9th to take moral responsibility for the occurrence of large-scale unpaid bonds related to Youngpoong Paper. The board of directors accepted Hwang's resignation and held an executive recommendation meeting to appoint Um as its next CEO.
Kiwoom Securities plans to hold an extraordinary shareholders' meeting on January 8 next year and appoint Vice President Um as an in-house director.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
