Korea Exchange names local brokerage vice-chief as new CEO

SEOUL, Dec. 23 (Yonhap) -- The Seoul bourse operator Korea Exchange (KRX) appointed Wednesday a vice president of a local brokerage as its new CEO after the previous president resigned over his opposition to a government decision to turn the bourse into a public entity.

In an unscheduled shareholder meeting, the KRX elected Kim Bong-soo, vice
chairman of midsize brokerage Kiwoom Securities Co. to run the bourse.
The appointment is subject to confirmation by the financial decision body
Financial Services Commission and the final approval by President Lee Myung-bak.
The KRX nomination came after former CEO Lee Jung-hwan resigned on Oct. 13 in
protest at the government's decision to turn the nation's sole bourse operator
into a public institution.
The change made the KRX's budget and operations subject to scrutiny by the
government and its audit agency.
pbr@yna.co.kr
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