Toss Securities hires former TikTok exec to be its new chief

Toss Securities said it hired Kim Seung Yeon to be its new chief executive officer. Prior to this role, he worked at TikTok’s Southeast Asian global business solution as a general manager.

Kim is a Korean-American who is known in the business field as a marketing expert with more than 25 years of experience in the industry. He will be replacing the company’s current chief Oh Chang Hoon who decided to step down and return to his original role in the company.

As per The Korea Herald, the outgoing CEO first joined Toss Securities in July 2022, and since then, he has been working on stabilizing the firm’s technological systems. It was reported that the company’s decision to assign Kim as its new chief came as a surprise to many people in the business. This is because he may be a marketing executive but has no experience in the finance department.

An official at Toss Securities told the publication regarding the appointment of a new leader, “Our current CEO Oh Chang Hoon wants to focus on his original CTO position and contribute to the firm further in that capacity. Although Oh still has remaining tenure, we have decided to name a new CEO.”

He further explained, “Neither our current CEO Oh, nor our first CEO Park Jae Min, were experts in finance, and what we look into when appointing new CEOs is the values that they can bring to our firm.”

In any case, Kim Seung Yeon’s appointment as chief executive at Toss Securities is set to be finalized at the upcoming shareholders' meeting that was scheduled for Mar. 30. Once everything is ironed out and Kim officially takes over the office, he will be leading the company for two consecutive years, and his work will start on April 3.