Former bourse operator CEO to lead mobile financial platform’s think tank

By Yi Whan-woo

Sohn Byung-doo, former chairman and CEO of Korea Exchange (KRX), was appointed as the new chief of a think tank that is operated by mobile financial platform operator Toss.

Sohn Byung-doo, former Korea Exchange (KRX) chairman and CEO / Yonhap

The company said Thursday Sohn was picked to oversee Toss Insight, a financial think tank launched in September to research and analyze trends in the financial sector, especially concerning accelerated digitalization.

Sohn will take office Nov. 1, for a three-year term, according to Toss.

“I’ve been closely paying attention to Toss as an innovator and pioneer of Korea’s financial industry,” the appointee said, referring to the growth of Toss’ internet-only services, including banking and securities.

He went on to say, “I will spare no efforts on Toss’ journey to create the future of the country’s finance.”

Sohn led KRX, the country’s sole bourse operator, from December 2020 to February this year.

A former bureaucrat, he was known for his gentle leadership style.

He spent more than 30 years at the Ministry of Economy and Finance, the presidential office and the Financial Services Commission (FSC).

He played a central role in laying the groundwork for fintech, a term referring to the use of technology for products and services in the financial industry, in the mid-2010s when he was at the finance ministry.

Prior to joining the KRX, he served as the FSC chairman from May 2019 to November 2020.

He earned a bachelor’s degree in international economics and a master’s in public administration, both at Seoul National University.

He holds a doctoral degree in economics from Brown University.