[THE INVESTOR] Kakaobank on Dec. 7 said it has decided to reappoint co-CEOs Yun Ho-young and Lee Yong-woo to lead the operations after their current two-year tenure ends on Jan. 2.
The nomination committee of the internet-only bank has recommended the inaugural heads to helm another two-year term until 2021.
“Lee, as a financial expert, has contributed in establishing the bank and to get it up and running in the financial market,” Kakaobank said in a statement. “Following its launch, he played a crucial role in delivering exponential growth and outstanding management accomplishment.”
Kakaobank co-CEOs Lee Yong-woo (left) and Yun Ho-young
Previously, he served as COO and CIO of Korea Investment Management, and head of asset operating division at Korea Investment & Securities.
“Yun played a key role for Kakao Bank to lead the financial industry,” the statement added. “He is the best candidate to strengthen Kakao’s position through distinguished innovation.”
Yun served as vice president at Daum before the portal was merged with Kakao. He has served as head of the TF of Kakao Bank.
Since it kicked off services in July 2017, Kakaobank has posted rapid growth, with more than 7 million users and total assets of more than 10 trillion won (US$8.93 billion).
By Ahn Sung-mi (firstname.lastname@example.org)