Lee Yeon-woo is a financial journalist at The Korea Times. Her wide range of reporting includes policies, macroeconomics, stock market, companies and even crypto. She is passionate about connecting the dots in Korean finance and making it easier for foreign nationals to understand. Based on her previous experience as a national reporter, she also has a keen interest in social issues within the sector, including gender equality and ESG. Your tips and insights are always appreciated. You can send them to yanu@koreatimes.co.kr.
Dunamu appoints new CEO as Lee Sirgoo steps down
Lee Sirgoo, left, and Oh Kyoung-suk / Korea Times photo by Choi Won-suk, Courtesy of Dunamu
By Lee Yeon-woo
PANKO CEO Oh Kyoung-suk named as successor
Dunamu said Thursday that Oh Kyoung-suk, the current CEO of PANKO, will succeed Lee Sirgoo, who plans to step down from his position effective July 1.
"I will strive to strike a balance between stability and innovation to help Dunamu grow into a more trusted global company amid the rapidly evolving digital finance landscape," Oh said.
Dunamu said Oh is a seasoned executive with a legal professional background. He is set to be formally appointed pending approval at a board of directors meeting and the extraordinary shareholders’ meeting scheduled for June 27.
He passed both the certified public accountant exam and the bar exam, and has held roles at Samil PwC, served as a judge at the Suwon District Court, worked as a research judge at the Supreme Court and practiced law at Kim & Chang.
He later joined PANKO in 2016, marking the beginning of his full-fledged career in corporate management. Since 2021, he has also served as an auditor for the fashion e-commerce company Musinsa.
Lee will remain with the company in an advisory role even after his resignation.
"I have decided to step down, believing that new challenges and changes are necessary for Dunamu’s greater leap forward, along with personal health concerns," Lee said in a statement sent to reporters on the same day. "Please continue to support Dunamu as it evolves under new leadership."
Appointed CEO of Dunamu in late 2017, Lee is widely credited with leading the launch of Upbit and transforming it into Korea's largest cryptocurrency exchange. He was reappointed in 2020 and again in 2023.
However, in February, Lee received a disciplinary warning, and Upbit was issued a three-month partial business suspension by financial authorities for allegedly failing to comply with transaction suspension obligations, customer due diligence requirements and suspicious transaction reporting duties. An administrative lawsuit regarding the matter is currently underway.