The Korea Accounting Institute (KAI, Chair: Eui-Hyung Kim) held its board of directors meeting on 24 July 2019 and announced the appointment of a new non-standing member of the Korea Accounting Standards Board (KASB):
Professor, Korea University Business School
The appointment will fill the vacant position that will arise on 31 July 2019 when Seok-Woo Jeong (Professor, Korea University) retires as board member.
The newly appointed board member will set, revise, and interpret Korean accounting standards during his 3-year term. Career and academic backgrounds of the new board member are as follows:
Name Sung-soo Yoon
Company Korea University Business School
Ph.D., Accounting, University of Illinois, Urbana-Champaign
MBA, Seoul National University
BBA, Seoul National University
Career in Accounting Profession
CPA, Samil Accounting Corp. (PwC Korea)
Assistant Professor, UCLA Anderson School
Member, Accounting Review Committee, Financial Supervisory Service
Member, Business Reorganization Plan Review Committee, Ministry of Trade, Industry and Energy
Member, Tax Policy Review Committee, Ministry of Economy and Finance
Member, Tax Incentive Performance Evaluation Advisory Committee, Ministry of Economy and Finance
About the KASB
The KASB is an independent private organization established on 1 September 1999 with the mission to set and revise accounting standards in Korea. The Board is committed to enhancing the quality of financial reporting by providing high quality accounting standards that are on a par with internationally accepted accounting standards. The KASB consists of 9 board members (2 of whom are full-time) who are professionals from the private sector.
About the KAI
The Korea Accounting Institute (KAI) was established as an umbrella organization of the KASB.