The Korea Accounting Institute (KAI, Chair: Eui-Hyung Kim) held its board meeting on 30 May 2018 and announced the appointment of 4 new non-standing members of the Korea Accounting Standards Board (KASB): 

Lee, Ki-hwa
CEO, Dasan Accounting Company
Lee, Myung Gon
Professor, Hanyang University
Kim DongWook
Senior Vice President, Samsung Electronics
Park, Heechoon
Former Chief Accountant / Deputy Governor, Financial Supervisory Service

Two of the appointments will fill the vacant positions that will arise on 31 May, 2018 when Bong H. Han (Professor, Ajou University) and Byung Il Shin (Country RMP, KPMG Samjong Accounting Corp.) retire as board members. The other two of the appointments were made as a result of the amendment to Act on External Audit of Stock Companies and the Enforcement rule thereof, which increased the total number of 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 Lee, Ki-hwa
Company Dasan Accounting Company
Academic Achievement
PhD, Taxation, University of Seoul 
MA, Business Administration, Seoul National University 
BA, Accounting, Keimyung University
Career in Accounting Profession
President, Korea Women CPAs Association 
Director & Auditor, Korean Institute of Certified Accountants 
Member, Public Fund Oversight Committee 
Member, Post Management Committee 
Member, National Tax Information Disclosure Council Committee

Name Lee, Myung Gon
Company Hanyang University
Academic Achievement
Ph. D., Accounting, University of Missouri-Columbia 
MBA, Finance, University of Missouri-Columbia 
BBA, Business Administration, Hanyang University
Career in Accounting Profession
Member of Korea Internal Accounting Control System Steering Committee(current) 
Member of Korea Accounting Standards Board Advisory Committee 
Member of Korea Auditing Standards Working Committee 
Member of Korea Audit Review Committee 
Vice-President of Korean Accounting Association (and Chief of Financial Accounting Section) 
Professor of Kyungpook National University

Name Kim DongWook
Company Samsung Electronics
Academic Achievement
BA, Business Administration, Yonsei University 
MA, Business Administration, Yonsei University
Career in Accounting Profession
Corporate VP, Executive in Charge of Corporate Finance &Accounting Group,Samsung Electronics 
Senior Vice President, Head of Group of Corporate Finance & Accounting Group, Samsung Electronics

Name Park, Heechoon
Academic Achievement
MA, Business Administration, Yonsei University 
BA, Business Administration, Yonsei University
Career in Accounting Profession
Partner of PwC Korea 
Director of Financial Supervisory Service 
Chief Accountant / Deputy Governor of Financial Supervisory Service

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 7 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.