The Korea Accounting Institute (KAI, Chair: Eui-Hyung Kim) held its board meeting on September 14, 2017 and announced the appointment of a new non-standing member of the Korea Accounting Standards Board (KASB):

Young Seok Kim
Managing Director, KB Asset Management

The appointment will fill the vacant position that will arise on September 15, 2017 when Youngkyo Jeon (Head of Dongbu Division, Shinhan Bank) 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 Young Seok Kim 
Company KB Asset Management
Academic Achievement
Bachelor of Business Administration, Yonsei University
Master of Business Administration, Yonsei University
Member of Korean Institute of Certified Public Accountants (KICPA)
Career in Accounting Profession
Chief Risk Officer/Managing Director, KB Asset Management (present)
General Manager of Accounting Department, KB Financial Group
General Manager of Accounting Department, KB Kookmin Bank
Advisory Council Member of Korea Accounting Standards

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.