Hyungtaek Kwon, Former HUG CEO, Appointed as New Chairman of Korea Technology Finance Corporation

On July 15, Korea Technology Finance Corporation (KIBO) announced that Hyungtaek Kwon has been appointed as its new chairman. Hyungtaek Kwon's term as chairman will last for three years until July 14, 2029.

According to the Act on the Management of Public Institutions, the chairman of KIBO is appointed through the following process: the executive recommendation committee recommends candidates to the Minister of SMEs and Startups, the minister selects the final candidate, and then submits the nomination for appointment by the president.

Hyungtaek Kwon, New Chairman of Korea Technology Finance Corporation

The new chairman, Hyungtaek Kwon, was born in 1968. He graduated from Daegu Youngjin High School and earned a degree in International Economics from Seoul National University, followed by a master's degree in Management Information Systems from the University of Michigan in the United States. His previous career includes leadership roles at the Investment Banking Division of Woori Bank, executive director at HSBC, special advisor for economic, financial, and investment affairs to the mayor of Incheon, vice president of Midan City Development, executive director of Seoul Metro, CEO of Gimpo Goldline Operations, and CEO of the Housing and Urban Guarantee Corporation (HUG). Most recently, he served as an advisor to the economic subcommittee of the National Policy Planning Committee.

The new chairman, Kwon, is recognized as a leader who has gained a balanced perspective on finance and public service through experience in both the private and public sectors, as well as demonstrated organizational management capabilities as a top executive. Kwon stated, "KIBO must take the lead in driving the growth of future strategic industries such as artificial intelligence and deep tech, so that Korea can emerge as one of the world's top four global venture powerhouses. I will do my utmost to strengthen support for innovative growth—including technology guarantees, technology commercialization, mergers and acquisitions (M&A), technology transactions, and technology protection—so that small and medium-sized enterprises and venture companies can become the main drivers of national economic innovation."

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