Kim Dong-jun, the eldest son of former DaouKiwoom Group chairman Kim Ik-rae, has been appointed as co-chairman of the board of Kiwoom Securities on the 27th.
Kiwoom Securities announced today that it held an extraordinary board meeting and appointed Kim as co-chairman of the board.
Kim was appointed as an internal director at Kiwoom Securities earlier in March and entered the board. After about three months, he has taken on the role of co-chairman of the board. This indicates that the succession of management rights to the second generation is becoming more pronounced. The Kiwoom Securities board will operate under the co-chairman system with Chairman Lee Hyun and Kim.
Kiwoom Securities stated in its disclosure regarding the reason for Kim's appointment, 'To promote mutual checks and balances between the chairs, Kim Dong-jun, an internal director, has been appointed as co-chairman to manage and operate the board carefully with Chairman Lee Hyun.'
It continued, 'By appointing co-chairs to the board, we can prevent concentration of authority in a single chair and enhance the transparency of board operations through careful decision-making,' and noted, 'Considering each co-chair's expertise, we expect to perform oversight of the management's internal control obligations more effectively.'
Born in 1984, Chairman Kim graduated from Monta Vista High School in the United States and majored in accounting at the University of Southern California (USC), later earning a Master of Business Administration (MBA) from Cornell University. He gained practical experience working at Samil and in affiliates of the group including Saramin, Daou Technology, and Daou Data.