The Korea Venture Capital Association (hereafter VC Association) is set to hold its first-ever primary election for the next association president. Candidates who had been rumored, Park Gi-ho, Song Eun-gang, and Kim Chang-kyu have all registered as preliminary candidates, and Kim Hak-kyun of Quantum Ventures has also put his name forward for the position of association president.
According to reports from the VC Association’s candidate recommendation committee on the 7th, four candidates have registered as preliminary candidates for the 16th association president of the VC Association: Park Gi-ho, CEO of LB Investment, Song Eun-gang, CEO of Capstone Partners, Kim Chang-kyu, CEO of Woori Venture Partners, and Kim Hak-kyun, CEO of Quantum Ventures.
Initially, the election for the 16th VC Association president was expected to be a three-way race among CEOs Park Gi-ho, Song Eun-gang, and Kim Chang-kyu, but Kim Hak-kyun’s unexpected registration as a preliminary candidate changed that. The committee plans to hold a meeting on the 24th to narrow it down to a maximum of two candidates.
The committee consists of the vice presidents of the VC Association. While the method for selecting candidates has not yet been determined, there is a strong possibility that it will proceed through anonymous voting. The two candidates selected by the committee will compete again at the board meeting scheduled for the 7th of next month.
As a result, the election for the VC Association president will hold its first-ever primary. It is interpreted that the growing size of the domestic VC industry has also influenced the increased voice of the VC Association. This contrasts sharply with the previous 15th president, where all 13 presidents were elected unanimously.
A representative from the VC industry noted that "the perception has spread that serving as the president of the VC Association helps in expanding networks and increasing the recognition of the house," adding, "This year's election for the VC Association president shows a completely different trend as large and medium-sized houses have all participated."