Park Byunggun, New PEF Council Chairman: "We Will Become Responsible Capital and Warm Finance"

Park Byunggun Appointed as New Chairman of the PEF Council
Hints at Upgrading PEF Council to PEF Association

Park Byunggun, CEO of Daishin Private Equity (PE), has been appointed as the new chairman of the Private Equity Fund (PEF) Council. Park emphasized his commitment to transforming the industry into one characterized by transparent and responsible capital, as well as warm and inclusive finance, in line with public expectations.

On October 22, the PEF Council held its general meeting at the Plaza Hotel in Jung-gu, Seoul, and appointed Park as the ninth chairman of the PEF Council. His term will begin next month and last for one year.

In his inaugural address, Park stated, "The Korean PEF industry was born out of the painful experience during the IMF bailout era, when the lack of domestic capital forced the nation to rely on foreign funds for its key industries. Over the past 20 years, the industry has achieved remarkable quantitative and qualitative growth, establishing itself as a vital pillar of our economy. The fact that major investors, such as pension funds and mutual aid associations, have continued to increase their allocations to PEF assets is a testament to the trust in these achievements."

However, Park also acknowledged the industry's sense of responsibility regarding recent controversies, such as the MBK Partners Homeplus incident. He said, "As the new chairman, both I and our industry will humbly accept the concerns of society and engage in deep self-reflection. Now is the time to move beyond simply seeking higher returns and to transform into capital that is more transparent and responsible, as well as finance that is warm and inclusive."

With more than 20 years since the launch of PEFs, Park pledged to drive renewal from this new starting point. He stated, "As chairman of the council, I will work to strengthen both the autonomy and responsibility of the industry, and will promptly establish a concrete roadmap for a transparent management system that meets public expectations, social value and sustainable growth, and the establishment of a trusted investment culture."

In addition, he outlined practical initiatives such as launching a committee within the council to promote social responsibility investment (SRI) across the PEF industry, as well as reorganizing the council's structure and roles to respond more proactively to social demands. Accordingly, there are plans to upgrade the PEF Council to a legally binding 'PEF Association,' since it currently lacks a legal foundation.

Park stated, "I will lead the council with an open attitude, engaging in deeper communication with the government, the National Assembly, investors, and the public, humbly accepting criticism and working together to find solutions. I will do my utmost to ensure that our industry regains trust and contributes to the healthy growth of the Korean economy."

Park graduated from Seoul National University with a degree in Control and Instrumentation Engineering, earned a master's and a doctorate in Electrical Engineering from the same university, and obtained an MBA from the Wharton School at the University of Pennsylvania in the United States. He previously served as a senior researcher at Samsung Electronics, head of the international division at Korea Technology Investment, and managing director at Intel Capital, before taking the helm at Daishin Private Equity in 2014.

Park Byunggeon, CEO of Daishin Private Equity (PE), newly appointed as the chairman of the PEF Council. Daishin PE

This content was produced with the assistance of AI translation services.