Pres. Kim of Kyobo Securities to Serve 3rd Term
트위터 페이스북 미투데이
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Pres. Kim of Kyobo Securities to Serve 3rd Term
Board appoints current CEO to serve 3rd consecutive term his 5th overroll due to his enormous success in turning the company around, in particular the real estate financing and hedge fund sectors

27(Tue), Mar, 2018




President Kim Hae-joon of Kyobo Securities Co.



President Kim Hae-joon of Kyobo Securities Co. has been awarded a third consecutive term, and his fifth overall, as the CEO of Kyobo Securities, which is  rare in the corporate community in Korea. Successful results from the company’s real estate financing and hedge fund sectors have cited as reasons for the enviable personnel move.

The company’s board recommended him as the sole candidate to head the securities firm at its meeting held on Feb. 22. His candidacy is very likely to be approved in the next board meeting scheduled for March 22. It will be a two-year term.

The board also recommended President Lim Seo-jeong of SIL Partners and President Kim Dong-hwan of Korea Financial Institution to sit as the two outside directors for Kyobo Securities.

President Kim, along with President Ryu Sang-ho of Korea Investment and Securities Co., are the two longest-serving CEOs of securities firms in Korea. Kim first became head of the securities affiliate of Kyobo Group in June 2008 and is slated to serve until 2020, making it 12 consecutive years as the CEO if he is not dismissed while serving the last term. President Ryu began serving as the CEO of the securities firms in March 2007.

Under Kim’s management, Kyobo Securities had a very good year in 2017 with its net profit coming to 73.3 billion won, up 17.7 percent year-on-year, the second highest net profit the company ever recorded, far surpassing 64 billion won in 2016. In 2015, the company logged 76.8 billion won, the biggest annual net profit the company has made. The securities firm’s capital amounts to 778.9 billion won, ranking it the 14th in the securities industry, as project financing has been the workhorse for the company’s profit generation.

Under Kim, the company diversified its profit sources to asset management, bonds, foreign exchange and the FICC, while the branches were turned into financial centers and its marketing manpower got special training. The results paid off. The company began to make profits from its wealth management sector and other sectors improved.

The company made a great return from the hedge fund sector last year, with its hedge fund target amounting to 1.630 trillion won, the highest among rival firms. In order to strengthen the management of the fund, CEO Kim named Section Chief Kim Jeong-hyun to take exclusive charge of the Hedge Fund Operation.

President Kim is known for his soft-yet-strict leadership in the industry. When an employee fails to meet his target over a certain period, Kim gives him another chance to make up for the failure so long as his attitude shows an eagerness to meet his target.

Kim Hae-joon has been Chief Executive Officer and Director of Kyobo Securities Co., Ltd. since June 27, 2008. Prior to the current position, Kim was Managing Director of the Company. Kim previously worked for Daewoo Securities Co., Ltd. as Head of Asset Management and Operation Division and for Kyobo Securities as Head of the Financial Division. Kim holds a Bachelor's degree in Economics from Chonnam National University. 




A view of the building in Yeouido, Seoul, where Kyobo Securities Co. has offices.(Photos: Kyobo Securities)



   
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