By Kim Tae-gyu
Staff Reporter
More than 10 candidates, including former heads of local brokerages and a college professor, applied for the chairmanship of the Korea Exchange (KRX), the operator of Seoul bourses.
The identities of around half the candidates are known but the remainder have yet to be disclosed. Hence, there is a possibility that former bureaucrats might throw their hat into the ring.
``More than 10 hopefuls showed their wish to take charge of the KRX. Many high-profile figures are included among the applicants,'' said a source, who is familiar with the issue.
Heading the candidates are reportedly Kim Sung-tae, who led Daewoo Securities over the past two years, and Park Jong-soo, who took the helm of Woori Investment & Securities from 2005 to 2009.
Kim started his professional career in 1975 at the Seoul office of Citibank and moved to Bankers Trust Company in 1983. After serving as CEOs of other local brokerages, he took charge of Daewoo in 2007.
However, the 57-year-old quit his post earlier this year, about a year before his term was due to finish. This surprised watchers because Daewoo had chalked up respectable performances under his stewardship. Kim did not give any reason for his departure.
Kiwoom Securities Vice Chairman Kim Bong-soo is another figure from the securities industry. He co-founded Kiwoom in 2000 and worked as a CEO of the company that specializes in online-based transactions.
Also featured among the contenders are professor Nam Sang-koo at Korea University and Cho Kyu-ha, chief executive of CSK Investment, who has worked in the financial industry throughout his career.
There have been no reports of financial policymakers applying for the open recruitment position ― though former Vice Finance and Economy Minister Lim Young-rok and former Financial Supervisory Service Deputy Governor Jeon Hong-yul have been mentioned as potential candidates by market observers.
Insiders are touting KRX executives Lee Chang-ho and Lee Chul-hwan as dark horses.
A temporary committee has been established to decide on the successor to KRX ex-head Lee Jung-hwan, who stepped down last month well ahead of his tenure, which was supposed to continue throughout 2010.
The bureaucrat-turned-CEO caused controversy by claiming that he had received persistent demands from the financial authorities to quit.
The temporary KRX committee will convene this week to screen the applicants. Through interviews, it plans to shortlist three finalists later this month and the new KRX head will be decided at a shareholders' meeting midway through next month.
President Lee Myung-bak will confirm the appointment.
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