The Korea Accounting Standards Board (KASB) held its 20th anniversary event on 2 September 2019.

At the celebration which began with the congratulatory speeches of Byungdoo Sohn, Vice Chairman of the Financial Services Commission (FSC), and Joong-Kyung Choi, President of the Korean Institute of Certified Public Accountants (KICPA), an appreciation plaque was presented to Chungwoo Suh, Member of the International Accounting Standards Board (IASB), in recognition of his contribution towards the development of accounting in Korea. Also, as a representative of the accounting circle, Jiwon Jung, Chairman of Korea Exchange and President of the General Assembly of Member Organisations supporting the KASB, was presented with the Books on the Development History of Accounting Standards in Korea which were published by the KASB to mark its 20 years of history. 

The keynote speech was given by Hans Hoogervorst, Chair of the IASB, who emphasised close cooperation between the KASB and IASB and expressed genuine interest in the KASB’s research on intangible assets. For the full transcript of the keynote speech, please follow the link: https://www.ifrs.org/news-and-events/2019/09/koreas-contribution-to-international-standard-setting/

As the main theme of the KASB’s 20th anniversary event, Jae-Ho Kim, Technical Director of KASB, presented on the KASB’s own assessment of the implementation of its VISION 2025 since the issuance in 2014.