# Oh Kyoung-suk > Oh Kyoung-suk is a South Korean executive with a background in law and finance. Formerly CEO of Panko, he was appointed as the new CEO of Dunamu, the operator o... - Canonical URL: https://iq.wiki/wiki/oh-kyoung-suk - Categories: People in crypto - Tags: Founder - Created: 2025-07-01T15:06:13.012Z - Last updated: 2025-10-11T16:36:13.498Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **Oh Kyoung-suk** is a South Korean executive and former legal professional who was appointed as the new Chief Executive Officer of [Dunamu](https://iq.wiki/wiki/dunamu), the operator of the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange [Upbit](https://iq.wiki/wiki/upbit), in May 2025. His appointment followed the resignation of the previous CEO, [Lee Sirgoo](https://iq.wiki/wiki/lee-sirgoo). [\[1\]](#cite-id-Vih3bQGWDD) [\[2\]](#cite-id-doYIlZRiXI) ## Education Oh Kyoung-seok pursued higher education with a focus on business and law. He graduated from Gongju National University High School and then earned a degree in Business Administration from Korea University. [\[1\]](#cite-id-Vih3bQGWDD) He completed his judicial training at the Judicial Research and Training Institute in 2008 after passing the bar exam. [\[1\]](#cite-id-Vih3bQGWDD) [\[3\]](#cite-id-F2xDjnXXLx) ## Career Oh Kyoung-seok's career spans accounting, law, and corporate management. He passed the Certified Public Accountant (CPA) exam in 2001 and subsequently worked at Samil PwC. Following his legal training, he served as a judge at the Suwon District Court. [\[1\]](#cite-id-Vih3bQGWDD) [\[3\]](#cite-id-F2xDjnXXLx) He worked as a research judge at the Supreme Court, then held a position at the law firm Kim & Chang. In 2016, he joined Panko Co., Ltd., an apparel company, entering the business sector, and was appointed CEO of Panko in 2018. [\[1\]](#cite-id-Vih3bQGWDD) [\[3\]](#cite-id-F2xDjnXXLx) He served as an external auditor for [Dunamu](https://iq.wiki/wiki/dunamu) for one year in 2021 and also serves as an outside director at Musinsa. [\[1\]](#cite-id-Vih3bQGWDD) [\[3\]](#cite-id-F2xDjnXXLx) ### Appointment as Dunamu CEO Oh Kyoung-seok was nominated as the new CEO of [Dunamu](https://iq.wiki/wiki/dunamu) on May 30, 2025. His official appointment was scheduled for June 27, 2025, following approval at an extraordinary shareholders’ meeting and board meeting. He assumed the role effective July 1, 2025. [\[1\]](#cite-id-Vih3bQGWDD) [\[3\]](#cite-id-F2xDjnXXLx) [\[4\]](#cite-id-2ADP8EnMgn) Upon his nomination, Oh Kyoung-seok stated; > "In the rapidly changing digital financial environment, I will pursue a balance between stability and innovation so that \[Dunamu] - (https://iq.wiki/wiki/dunamu) can establish itself as a more trusted global company." He added, "Based on my accumulated experience, I will lead Dunamu’s next leap forward." [\[1\]](#cite-id-Vih3bQGWDD) [\[3\]](#cite-id-F2xDjnXXLx) ### Context of Appointment Oh Kyoung-seok succeeded [Lee Sirgoo](https://iq.wiki/wiki/lee-sirgoo), who had led [Dunamu](https://iq.wiki/wiki/dunamu) since 2017. [Lee Sirgoo](https://iq.wiki/wiki/lee-sirgoo) stepped down with approximately a year and a half remaining in his term, citing personal health concerns and the belief that new challenges were needed for [Dunamu](https://iq.wiki/wiki/dunamu)'s growth. Lee Sirgoo is credited with overseeing Dunamu's expansion and the development of [Upbit](https://iq.wiki/wiki/upbit) into South Korea's largest [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) exchange, which holds over 80 percent of the domestic crypto trading market and ranks seventh globally. He will continue to serve [Dunamu](https://iq.wiki/wiki/dunamu) as an advisor. [\[1\]](#cite-id-Vih3bQGWDD) [\[4\]](#cite-id-2ADP8EnMgn) [\[2\]](#cite-id-doYIlZRiXI) The leadership change occurred following a disciplinary warning [Lee Sirgoo](https://iq.wiki/wiki/lee-sirgoo) received from the Financial Intelligence Unit (FIU) in February 2025. [Upbit](https://iq.wiki/wiki/upbit) was also issued a three-month partial business suspension by financial authorities for alleged failures in complying with transaction suspension obligations, customer due diligence, and suspicious transaction reporting duties. An administrative lawsuit regarding these sanctions is ongoing. Oh Kyoung-seok's legal background is considered relevant in addressing these regulatory and legal challenges and strengthening internal controls. [\[1\]](#cite-id-Vih3bQGWDD) [\[2\]](#cite-id-doYIlZRiXI) ## Giwa [Giwa](https://iq.wiki/wiki/giwa) is an [Ethereum](https://iq.wiki/wiki/ethereum) [Layer 2](https://iq.wiki/wiki/layer-2) [blockchain](https://iq.wiki/wiki/blockchain) developed by [Dunamu](https://iq.wiki/wiki/dunamu) Inc., the parent company of South Korea’s largest cryptocurrency exchange, [Upbit](https://iq.wiki/wiki/upbit). It targets a one-second block time to deliver near real-time transaction finality, aiming to support latency-sensitive applications such as gaming and digital finance. It is fully compatible with the [Ethereum Virtual Machine (EVM)](https://iq.wiki/wiki/ethereum-virtual-machine-evm), allowing existing [Solidity](https://iq.wiki/wiki/solidity) contracts and developer tools (like Hardhat, Remix, etc.) to be reused without significant change. In future development phases, [Giwa](https://iq.wiki/wiki/giwa) is expected to incorporate a Korean won–pegged [stablecoin](https://iq.wiki/wiki/stablecoin), adding domestic currency functionality to its ecosystem. [Dunamu](https://iq.wiki/wiki/dunamu) is also creating a native wallet, the Giwa Wallet, to simplify user access and interaction with the network. [\[5\]](#cite-id-V7aN6k4goW) [\[6\]](#cite-id-s0spKN1N4c) [\[7\]](#cite-id-E9vmLzLXbK)