Tong Yang Securities picks new chief executive officer

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Tong Yang Securities picks new chief executive officer

Chung Jin-seok, chief exceutive officer of Tong Yang Asset Management, has been named CEO of Tong Yang Securities.

The brokerage firm’s board of directors held a meeting yesterday and passed the proposal for its new CEO.

The nomination of Chung must be approved during the brokerage firm’s shareholder meeting on June 28.

The current CEO, Yi Seung-gook, is said to have turned in his resignation last week.

Chung’s nomination is reported to be part of a grander reorganization of Tong Yang Group.

Chung headed the strategic and planning department of Tong Yang Group from 2007 to April 2010.

Tong Yang Group owner Hyun Jae-hyun announced late last year of reorganizing its businesses to center on energy, cement and finance.

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