Korea Technology Finance Corporation (KOTEC) said on the 15th that former Korea Housing & Urban Guarantee Corporation (HUG) CEO Kwon Hyeong-taek was appointed as the new chair on the 15th. The term is three years, until July 14, 2029.
The chair of Korea Technology Finance Corporation (KOTEC) is appointed under the Act on the Management of Public Institutions, with the executive recommendation committee recommending candidates to the Minister of the Ministry of SMEs and Startups, the Minister selecting the final candidate, and the president giving approval.
Kwon, the new chair, is regarded as a figure who has gained expertise in finance and public services and the ability to run organizations through broad experience in both the private financial sector and public institutions.
Born in 1968, Kwon, the new chair, graduated from Daegu Yeongjin High School and Seoul National University with a degree in international economics, and earned a master's in management information systems from the University of Michigan in the United States. Kwon later served at Woori Bank's investment banking division and as an executive director at Hongkong and Shanghai Banking Corporation (HSBC), then as special advisor to the Incheon mayor for economy, finance, and investment; vice president of Midan City Development; standing director of Seoul Metropolitan Rapid Transit Corporation; CEO of Gimpo Goldline Operation; and CEO of Korea Housing & Urban Guarantee Corporation (HUG). Most recently, Kwon also served as an advisory member of the economic subcommittee of the Presidential Committee on Policy Planning, taking on roles in economic and industrial policy.
Kwon, the new chair, said, "Korea Technology Finance Corporation (KOTEC) must take the lead in driving growth in future strategic industries such as AI and deep tech so that Korea can leap forward as one of the world's top four venture powerhouses," adding, "We will further strengthen support for innovative growth—including technology guarantees, technology commercialization, mergers and acquisitions (M&A), technology transactions, and technology protection—so that small and medium venture companies can firmly establish themselves as the leading actors in national economic innovation."