Joh Sung-wook

Joh Sung-wook (Korean: 조성욱; Hanja: 趙成旭; born 1964) is a professor of finance at Seoul National University Business School[1] with expertise in competition policy and corporate governance currently serving as the chairperson of Fair Trade Commission (KFTC) under President Moon Jae-in from 2019. She is the first woman to lead the South Korean antitrust agency since its creation in 1980s.[2] Previously, she was also the first Korean woman to study doctorate-level economics at Harvard University as well as the first woman to join faculty of business schools at Korea University and most recently Seoul National University respectively.[1]

Joh Sung-wook
조성욱
Chairperson of Korea Fair Trade Commission
In office
9 September 2019 – 8 September 2022
PresidentMoon Jae-in
Prime MinisterLee Nak-yeon
Chung Sye-kyun
Preceded byKim Sang-jo
Succeeded byHan Ki-jeong
Personal details
Born1964
Cheongju, South Korea
Alma materSeoul National University
Harvard University
In this Korean name, the family name is Joh.

Education

She holds three degrees in economics: bachelor and master from Seoul National University and doctorate from Harvard University. She was the first Korean woman to study doctorate-level economics at Harvard.[3]

Career

Teaching

Joh started her teaching career at State University of New York at Albany as its assistant professor of economics from 1994 to 1997.[3] From 2003 to 2005 she was an associate professor of finance at Korea University Business School and its first female faculty member [1] as well as a visiting associate professor at Hitotsubashi University in Tokyo.[3] She received the title of being the first female faculty member again in 2005 when she transferred to Seoul National University Business School as its associate professor of finance.[1] She is now its professor of finance.

Fair trade and competition regulation

Since November 2018, Joh has served as member of economics sub-committee of Regulatory Reform Committee led by the president. From April 2013 to April 2019, she served as non-standing commissioner of Securities and Futures Commission, which is similar to U.S. Securities and Exchange Commission and a sub-commission within the South Korean Financial Services Commission. From 1997 to 2003 she advised government on its Chaebol policies as the research fellow at Korea Development Institute where she worked with now-senior opposition figure, Yoo Seong-min. Since then, she took various governmental roles at now-Ministry of Economy and Finance, Prime Minister's Office, KFTC, Korea Corporate Governance Service of Korea Exchange and Financial Services Commission mostly as their advisor on policy formulation and evaluation.[3]

As chairperson of the Fair Trade Commission, the role to which Joh was appointed in 2019, she is reportedly regarded to take similar stances and leadership as her predecessor Kim Sang-jo, President Moon Jae-in's first KFTC chairperson and now his top policy aide.[4] Joh and the head of Financial Services Commission who both serve with the fixed term of three years have expressed their intentions to resign upon the inauguration of the new administration following the customs of their predecessors.[5]

Other roles

Joh also took various roles in academia. She is an honorary president of Financial Information Society of Korea and an auditor of Korea Monetary and Finance Association which she previously served as its president and vice-president respectively. She is also a board member of Korea Academic Society of Industrial Organization. From 2010 to 2013 Joh was one of non-executive directors of Hanwha Group one of South Korean Chaebols.[6]

She served as a visiting scholar at International Monetary Fund in 2008 and a visiting research fellow at Development Bank of Japan in 2004.[7]

Research

Her article in 2003, which identified poor corporate governance as a cause of 1997 Asian financial crisis in South Korea,[8] is in the Hall of Fame at Journal of Financial Economics.[3]

References
  1. "서울대 경영대 첫 여성교수 조성욱 " 여성교수가 남성보다 많아질 것"" [SNU Business School's first female professor, Joh Sung-wook "more female professors in the future"] (in Korean).
  2. 김광태 (2019-08-09). "(profile) New antitrust chief nominee well-versed in competition policy, chaebol". Yonhap News Agency. Retrieved 2019-08-09.
  3. "JOH, SUNG WOOK Professor - Faculty - Faculty - Faculty & Research - SNU Business School". cba.snu.ac.kr. Retrieved 2019-08-09.
  4. "새 공정위장 조성욱은 재벌개혁 강경론자···'김상조 아바타'" [New FTC Chair nominee Joh Sung-wook is chaebol reform hard-liner...Kim Sang-jo's avatar] (in Korean).
  5. "공정위원장·금융위원장 사의 표명…윤석열 정부 출범 전 사퇴가 '관례'". www.polinews.co.kr (in Korean). Retrieved 2022-05-06.
  6. "조성욱 공정위원장 후보 "막중한 책임 느껴…청문회 준비주력"" [Joh Sung-wook FTC chair nominee "tremendous responsibility...focusing on preparing for hearing"] (in Korean).
  7. "SungWook Joh, Chairman, Korea Fair Trade Commission". ICGN. 2020-01-09. Retrieved 2021-03-05.
  8. Joh, Sung Wook (May 2003). "Corporate governance and firm profitability: evidence from Korea before the economic crisis". Journal of Financial Economics. 68 (2): 287–322. doi:10.1016/S0304-405X(03)00068-0.
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