[비즈한국] At its annual general meeting this March, Daishin Securities reappointed Vice-Chairman Yang Hong-seok (45) and newly appointed Jin Seung-wook (58) as the new CEO. Oh Ik-keun (63), who served as CEO for the past six years, stepped down from his position. Some in the financial sector interpret this as Daishin Securities beginning a full-scale generational shift.
A pressing task for Daishin Securities is gaining entry as a mega-sized investment bank (IB). Securities firms authorized by financial authorities as mega-sized IBs are permitted to operate an e-note business. Last year, Daishin Securities surpassed the 4 trillion won equity capital requirement, which is a condition for such authorization. The company aims to obtain the mega-IB license by 2028. The outcome of this application is expected to impact the evaluation of both Vice-Chairman Yang Hong-seok and CEO Jin Seung-wook.
Some in the financial sector suggest that Vice-Chairman Yang Hong-seok might ascend to the position of Chairman once the company receives its mega-IB license. Vice-Chairman Yang is already responsible for key decision-making at Daishin Securities. The current chairwoman of Daishin Financial Group is his mother, Chairwoman Lee Ear-ryong (73).
The late Yang Hoe-moon, former chairman of Daishin Securities, who was Vice-Chairman Yang Hong-seok’s father and Chairwoman Lee Ear-ryong’s husband, passed away due to illness in September 2004. Chairwoman Lee Ear-ryong was subsequently appointed as his successor. The late Chairman Yang had three children: his eldest daughter Yang Jung-yeon (48), his eldest son Vice-Chairman Yang Hong-seok, and his second son, the late Yang Hong-jun. However, in 2004, Vice-Chairman Yang Hong-seok was in his early twenties and considered too young to manage the company, which led to Chairwoman Lee Ear-ryong taking the helm.
Chairwoman Lee Ear-ryong remains highly active today. In her New Year’s address this January, she stated, "We have established 'Value-up' as our strategic goal for 2026 to reach the top tier of the industry," adding, "This signifies that we will not settle for our current position but will elevate our assets, business portfolio, talent, and organizational capabilities to leap forward into a larger company recognized by the market and investors," thereby outlining the business direction for Daishin Financial Group.
Vice-Chairman Yang Hong-seok’s position is also steadily strengthening. He was promoted to vice-chairman in 2021 and became the chairman of the board in 2023, overseeing major decision-making. Simultaneously, he is the largest shareholder, holding an 11.27% stake in Daishin Securities. The second-largest shareholder is Chairwoman Lee Ear-ryong with a 3.04% stake. In 2024, the Korea Fair Trade Commission designated Vice-Chairman Yang Hong-seok as the 'de facto head' (same person) of Daishin Financial Group.
Now that Vice-Chairman Yang Hong-seok has reached his mid-40s and has served as vice-chairman for six years while being the largest shareholder, it would not be surprising for him to assume the chairmanship. Even when he was appointed chairman of the board, there was speculation that Chairwoman Lee Ear-ryong might be named honorary chairwoman and that Vice-Chairman Yang would ascend to the role of chairman.
Currently, Chairwoman Lee focuses on Daishin Financial Group’s social contribution activities, while Vice-Chairman Yang mainly decides on major business operations. Essentially, he acts as the leader of the company. However, an industry official noted, "Since he is already the de facto head, whether he holds the title of vice-chairman or chairman is a formal matter, but as chairman, his messages and remarks would carry more weight in external activities.">
Since Vice-Chairman Yang Hong-seok took office as chairman of the board, Daishin Securities’ performance has been on an upward trend. The company’s net profit increased from 135.8 billion won in 2023, to 144.2 billion won in 2024, and to 187.6 billion won in 2025. As Vice-Chairman Yang has not been involved in any significant controversies, there are no particular obstacles to his potential appointment as chairman. Furthermore, succeeding in obtaining the mega-IB license could provide a strong justification for the move. However, Daishin Securities has not released any official position regarding Vice-Chairman Yang Hong-seok’s appointment as chairman.