Kwak Byung-jin, 60, a professor at KAIST, was appointed as the 10th head of the Korea Accounting Standards Board.
The Korea Accounting Standards Board said on Dec. 19 that it held its fifth general meeting of members for 2025 and appointed Professor Kwak as the 10th head of the Korea Accounting Standards Board. The term is three years, from Mar. 1, 2026, to Feb. 28, 2029.
The head of the Korea Accounting Standards Board also serves as Chairperson of the Korea Accounting Standards Board (KASB) and Chairperson of the Korea Sustainability Standards Board (KSSB).
Kwak, the new head, was born in 1965, graduated from the business administration department at Seoul National University, earned a master's degree in business administration from the University of Texas, and obtained a Ph.D. in business (accounting) from Purdue University. Kwak also holds a U.S. Certified Public Accountant license.
Kwak is currently a professor at KAIST and has served as a Commissioner of the Korea Accounting Standards Board Korea Sustainability Standards Board and as an invited research fellow. Overseas, Kwak was a visiting professor at Virginia Commonwealth University and SUNY Buffalo. In academia, Kwak has served as vice president of the Korea Accounting Policy Association, a director of the Korean Accounting Association, and a director of the Korea Management Accounting Association.
Meanwhile, the Korea Accounting Standards Board is a private organization established in Sep. 1999 that performs the tasks of establishing, revising and interpreting accounting standards.