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KRX chairman offers to step down

The head of South Korea’s stock bourse operator has offered to resign, signaling what could be the beginning of a replacement at the top of brokerage-related agencies, industry sources said Sunday.

Kim Bong-soo, the chairman of the Korea Exchange recently expressed his intent to step down to Financial Services Commission Chairman Shin Je-yoon, according to the sources.

Kim, 59, offered to resign, saying that he has done his part and now is the time to leave, a source said on condition of anonymity. His official term is scheduled to end in December.

He was named to lead the stock bourse operator under the previous Lee Myung-bak government. He has been known to be close to the former president as they graduated from the same university.

Since the new government was inaugurated in late February, he has been cited as one of those at the top of major brokerage-related agencies who will be forced to step down. (Yonhap News)
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