Dr Jungho Kang To Resign As CEO & President of The Kosdaq Stock Market, Inc.

The Kosdaq Stock Market, Inc announced the resignation of Dr Jungho Kang as President & CEO with immediate effect. Dr Kang has been appointed as Chairman & CEO of the Korea Futures Exchange and will assume responsibilities on January 21. He will be succeeding Mr. In Won Lee who announced his retirement last December.

Prior to serving as chief executive, Dr Kang has served numerous posts at the Ministry of Finance since 1971. In 1984, the Ministry assigned him to serve at Brussels, Belgium as the Financial Attache and Representative of the Republic of Korea to the CCC. Kang returned to Korea working once again in various capacities as Directors of numerous divisions within the Ministry. In 1994, he was assigned to the IMF as the Korean Resident Representative and Alternate Executive Director of the Board, and returned to Korea in 1997.

Since his appointment as CEO of the Kosdaq Stock Market, Inc. in April 1999, the Kosdaq Stock Market has undergone structural changes that have resulted in better output and efficiency. Kang has made every effort to effectively lead the market into a vibrant and well-managed stock market, and actively contributed to the development of Korea.

The Board of the Kosdaq Stock Market, Inc. stated that the company has initiated the search for a new chief executive. In the meantime, Mr. Hwan Kyun Park, Senior Managing Director of Kosdaq, will assume executive responsibility.