The IFRS Trustees has appointed Chungwoo Suh as a member of the
International Accounting Standards Board.

Suh is an adviser to the Korea Accounting
Standards Board (KASB) and a professor of accounting at Kookmin
University in Seoul.

He was the KASB chairman between 2008 and
2011, and played an active role in pushing Korea to adopting the
IFRS in 2011.

“The Republic of Korea is an important member
of the G20 and a major Asian economy, as well as being a full
adopter of IFRS,” IFRS Trustees chairman Robert Glauber said.

The appointment is for an initial five-year
term from 1 July 2012 and renewable for a further three-years.