Seoul: The co-chief executive officer of Shinyoung Securities Co., a local brokerage, was elected as the new chairman of the Korea Financial Investment Association (KOFIA) on Thursday. Hwang Seong-yeop, aged 62, secured 57.36 percent of the votes in a decisive election held at an extraordinary general meeting of the association.

According to Yonhap News Agency, Hwang will take over the leadership from the current chair, Seo Yoo-seok, whose three-year term concludes this month. Hwang has dedicated nearly four decades to Shinyoung Securities and possesses a comprehensive understanding of the financial investment industry, with experience in areas such as investment banking and asset management.

Hwang has expressed his commitment to easing regulations and supporting national strategic industries. He also aims to facilitate the movement of capital from the real estate sector to the capital market, indicating a shift in focus that could have significant implications for the industry.