Daishin Securities to be run by third-generation of founding family

Daishin Securities Co. headquarters [Courtesy of Daishin Securities]

South Korea’s Daishin Securities Co. Thursday announced the appointment of Vice Chairman Yang Hong-seok as the new chairman of its board, marking the start of third-generation management at the company.

According to the company, Yang was appointed as the board chairman during the company’s regular shareholder meeting held on March 24. The company’s board has been led by Yang’s mother Lee Uh-ryong, chairperson of Daishin Financial Group, and her term as an inside director is due to expire at the end of this month.

Born in 1981, Yang is the grandson of Yang Jae-bong, the founder and honorary chairman of Daishin Securities.

After graduating from business administration at Seoul National University, Yang joined Daishin Securities and worked his way up through the ranks, serving as an executive, managing director, and president before being promoted to vice chairman in 2022.

Yang is also the largest shareholder of Daishin Securities, holding a 10.19 percent stake.