The leadership of KOSAF consists of an executive
staff and a board of directors. A number of committees advise the foundation.
Executive directors and board members (numbering at a maximum of 15, including
the Chairman, according to the Act and Enforcement Decree by which the
foundation was established) are appointed to KOSAF.
According to the provisions in Article 26 of the
Act on the Management of Public Institutions, the Chairman of the Korea Student
Aid Foundation is appointed by the President of the Republic of Korea, according
to the recommendation by the Minister of Education. The Minister of Education
selects a candidate for the recommendation to the President from a list of the
nominees submitted by an executive nomination committee.
Chief Internal auditor is chosen among several candidates who have been recommended by
an executive nomination committee and approved by the steering committee after
evaluation. The candidate is recommended by the Minister of Strategy and
Finance and appointed by the President.
The Executive Directors are
appointed by the Chairman, according to the Act on the Management of Public
Institutions and other directly applicable laws and regulations.
Under the Act on the Establishment of the Korea
Scholarship Foundation, the Board, which includes the Chairman, is responsible
for deliberating on and resolving critical matters pertaining to KOSAF. The
Board meets on a periodic basis. The Board consists of two standing executives
(Chairman and Senior Executive Director of KOSAF) and either non-standing
directors. In addition, the Chief Internal Auditor may attend a meeting of the
board of directors and give opinions on its agenda.
According to the Act on the Management of Public Agencies and other directly applicable laws and
regulations, the non-executive members of the board are appointed by the
Minister of Education, Science and Technology from among nominees selected by an
executive nomination committee. One individual nominated by the Minister of
Education, Science and Technology, one individual by the Minister of Strategy
and Finance, and one individual by the Chairman of the Financial Services
Commission are automatically appointed as non-executive board members.
Non-standing Directors [ex officio]
- Sae-Hun Seol, Director General of Academic Research Affairs and Financial Aid Bureau, Ministry of Education
- Wansup Kim, Director General of Social Budget, Ministry of Strategy and Finance
- Myung-Soon Lee, Chief of Financial Consumer Bureau, Financial Services Comission
- Jae-Eun Chae, Professor of public administration , Gachon University
- Myung-Sook Kang, Professor of Education Faculty, Pai Chai University
- Chang-Ok Um, Professor of Economics & Trade, Kyungpook National University
- Won-Chang Lee, Lawyer, Daegu Law Firm
- Ji-HO Jang, Professor of Public Administration, Hankuk University of Foreign Studies
- Byung-Chun Park, Professor of Management engineering, Keimyung University
A number of committees serve an advisory function on
specific aspects of the foundation’s work. Each committee is responsible for a
certain area in which to give input. Committees advise KOSAF on many areas
including risk management, asset management, customer service, and key