이 기사는 2021년 05월 13일 07:42 thebell 에 표출된 기사입니다.

South Korea’s Military Mutual Aid Association (MMAA) is struggling with the appointment of its new Chief Investment Officer (CIO) as Lee Do-yoon, a former CIO of the nation’s Police Mutual Aid Association (PMAA) who was one of the three shortlisted candidates for the role, has been named as the new CIO of Yellow Umbrella.

MMAA shortlisted three candidates for the position after posting the job on its website in March.

Yellow Umbrella is the mutual aid association under the Korea Federation of Small and Medium Businesses.

MMAA is reportedly mulling over whether to resume the selection process by adding one more candidate or hold its operating committee meeting to name the CIO between the two remaining candidates. MMAA originally planned to hold the meeting this month, but the final timeline has not been confirmed yet.

MMAA’s financial division chief Kim Jae-dong will stay in office until its new CIO has been selected. Kim led the financial operations of MMAA since 2017 as its first CIO from within. His extended four-year term expired in April.

If MMAA decides to hold the operating committee meeting to name the new CIO among two candidates, the final candidate is likely to be announced within this month.

PMAA is also in the process of hiring the new CIO, which has been vacant for more than six months since last October.

Government Employees Pension Service CIO Seo Won-joo is expected to serve an extended one year term after his term expires in June. (Reporting by Si-eun Park)