Kwon Hyeong-taek named new chairman of Korea Technology Finance Corporation

The Korea Technology Finance Corporation, known as Kibo, announced Wednesday that Kwon Hyeong-taek, former chief executive of the Korea Housing and Urban Guarantee Corporation (HUG), has been appointed its new chairman. His three-year term runs through July 14, 2029.

Under the Act on the Management of Public Institutions, Kibo's chairman is appointed through a process in which a candidate recommendation committee nominates candidates to the minister of SMEs and Startups, who selects a final candidate and recommends that person to the president for appointment.

Born in 1968, Kwon graduated from Yeongjin High School in Daegu and studied international economics at Seoul National University. He holds a master's degree in management information systems from the University of Michigan.

He built his career across Woori Bank's investment banking division and HSBC, where he served as a managing director, before taking on roles as special adviser on economy, finance and investment to the Incheon mayor, vice president of Midan City Development, and standing director of Seoul Metro. He later served as chief executive of Gimpo Goldline Operations and then of HUG, and most recently advised the economic subcommittee of the National Policy Planning Committee.

"Kibo must lead the way in driving growth in future strategic industries such as AI and deep tech, so that South Korea can rise to become one of the world's top four venture powerhouses," Kwon said.

He added that he would "do everything possible to strengthen support for innovative growth — including technology guarantees, technology commercialization, mergers and acquisitions, technology transactions and technology protection — so that small and medium-sized venture companies can grow into the driving force behind national economic innovation."