• Register
Return to: Home > News > Standards > Chief executive of Korean standard setter appointed

Chief executive of Korean standard setter appointed

The Korea Accounting Institute (KAI) has appointed Jee In Jang as the chair and chief executive officer of the Korea Accounting Standards Board (KASB), effective 1 March.

Jang, a former KAI president, is currently a professor at the business school of Chung-Ang University and is the chair of the Accounting Credibility Enhancement Committee of the Korean Institute of Certified Public Accountants.

Jang will be assisted by Sungsoo Kwon who was appointed as vice-chair of KASB. Previously Kwon was senior director of KASB.

Jang and Kwon will take over current chair Suk-Sig Lim and vice-chair Chanhong Kim.

Under Jang's leadership the KASB will focus on the implementation of the IFRS in Korea, the standard setter said in a statement.

IFRS is a requirement for all listed companies in the Korea Exchange (KRX) as well as for financial institutions- even if they are not listed- including banks, insurance companies, investment brokers or credit card companies among others.

Besides of its domestic standard-setting role for unlisted companies, the KASB eases the Korean government's endorsement of IFRS.

So far, all IFRS as issued by the International Accounting Standards Board have been endorsed without carve-outs or modifications, adopting the denomination of K-IFRS.

Foreign KRX-listed companies can, however, choose between IFRS, K-IFRS and US GAAP.

Related link:

KAI / KASB

Top Content

    IRBA: taking transparency to the next level

    Bernard Agulhas, chief executive officer at the Independent Regulatory Board for Auditors (IRBA), talks to Joe Pickard about the introduction of mandatory audit firm rotation, and the future of the Big Four in South Africa

    read more

    Sustainable investment: Accountants hold the key

    The US Institute of Management Accountants has a plan to remind professionals that they have the skills to take leadership roles in ESG investing. Carlos Martin Tornero writes

    read more

    IASB: progress towards global standards

    In an extract from a speech given at the Accounting Standards Board of Japan conference in Tokyo, Hans Hoogervorst looks at a possible return of the amortisation of goodwill to IFRS, and the standards’ progress in Japan

    read more

    IMA: developing diversity

    At the end of the July, the Institute of Management Accountants (IMA) appointed Linda Devonish-Mills as its first director of diversity and inclusion. Joe Pickard discusses with her what she plans to do in her new role

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.