The Korea Accounting Institute (KAI, Chair: Eui-Hyung Kim) held its board of directors meeting on 31 May 2021 and announced the appointment of four new non-standing members of the Korea Accounting Standards Board (KASB): 

Youngsoon Cheon
Professor, Chung-Ang University

Gweonchu Park
CEO, PGC Accounting & Tax Firm

Dong-Guen Lee
Risk Management Leader & Partner, Ernst & Young Han Young

Kwang-Oh Kim
Executive Vice President, Corporate Finance Center, Hyosung Corporation

The appointments filled the vacant positions that arose on 31 May 2021 when Ki-hwa Lee (CEO, Dasan Accounting Company), Myung Gon Lee (Professor, Hanyang University), DongWook Kim (Senior Vice President, Samsung Electronics) and Heechoon Park (Former Chief Accountant/Deputy Governor, Financial Supervisory Service) retired as board members. 

The newly appointed board members will set, revise, and interpret Korean accounting standards during their 3-year term. Career and academic backgrounds of the new board members are as follows:

Name Youngsoon Cheon
Company Chung-Ang University
Academic Achievement
Ph.D, Accounting, University of Georgia
Macc, Accounting, University of Georgia
BA, Business Administration, Chung-Ang University 
Career in Accounting Profession
Assistant professor of Accounting, Baruch College, CUNY
Senior research fellow, Financial Supervisory Service(FSS)
Chairman of Capital Market Sub-committee, Financial Regulation Advisory Committee, FSS
Chairman of the KOSDAQ Disclosure Committee, Korea Exchange
Member of the Audit Review Committee, Securities & Futures Commission
Member of the National Accounting Standards Board, Ministry of Strategy and Finance

Name Gweonchu Park
Company PGC Accounting & Tax Firm
Academic Achievement
Ph.D, Accounting, Chung-Ang University
MA, Business, Seoul National University 
BA, Tax, Seoul City University
Career in Accounting Profession
Chief Accountant (Deputy Governor) of Financial Supervisory Service
Member of Korean SEC Audit Review Commission
Member of Korean SEC Accounting Institution Review Commission
Member of KICPA Ethics Commission

Name Dong-Guen Lee
Company Ernst & Young Han Young
Academic Achievement
Master’s Degree in Business Administration from Korea University
Bachelor’s Degree in Business Administration from Korea University Certified Public Accountant, the Korean Institute of Certified Public Accountants
Career in Accounting Profession
Risk Management Leader and Professional Practice Director of Ernst & Young Han Young, Korea
Member of the Accounting Principles Board, the Financial supervisory Service of Korea
Member of the Korean Auditing and Assurance Standard Board, the Korean Institute of Certified Public Accountant

Name Kwang-Oh Kim
Company Hyosung Corporation
Academic Achievement
Hongik University (Doctor of Business)
Yonsei University (Master of Business)
Yonsei University (Bachelor of Business)
KICPA
Career in Accounting Profession
Samil PWC Partner
C&L Dublin auditor

END

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.