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.
Byung-Il Bae • Byung-Il Bae, Chairman
Byung-Jae Suh • Seong-Geun Bae, Executive Director
Jong-Sun Kim • Jong-Sun Kim, Executive Director
Jong-Sun Kim • Byeong-Ki Hwang, Executive Director


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]
  • Yeon-hui Gu, Director General of Regional Human Capital Policy Bureau, Ministry of Education
  • Keum-Chol Park, Director General of Social Budget, Ministry of Strategy and Finance
  • Jae-Hun Ryu, Chief of Financial Consumer Bureau, Financial Services Comission

Non-standing Directors
  • Byung-Chun Park, Professor of Management engineering, Keimyung University
  • Eun-jeong Kim, Professor of public administration, Pukyong National University
  • Ee-Kyeong Kim, Professor of education, Chung-Ang University
  • Han-Shin Do, Professor of Computer aided mechanical engineering, Yeungjin University
  • Hyeon-Sook Yoon, Professor of Department of Rehabilitation Personal Training, Konyang 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 policies.

Mission and Values
Scholarship Programs
Loan Programs
Talent Development Programs
Ministry of Education
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