Dunamu CEO reappointed for third term

Lee Sirgoo, the CEO of Dunamu, poses during an interview with The Korea Times at Dunamu's headquarters in Seoul, in this June 2022 photo. Korea Times photo by Choi Won-suk By Lee Yeon-woo Lee Sirgoo, the CEO of Dunamu, has been successfully reappointed for his third term. He will serve in the position until 2026. On Tuesday, Dunamu, which operates the nation's leading cryptocurrency exchange Upbit, held an extraordinary general meeting of shareholders during which Lee's reappointment was confirmed. Lee initially took on the role at the end of 2017 and was re-elected in 2020. With this reappointment, Lee has become the longest-serving CEO in the crypto industry, excluding founders. His continued tenure, extending over a decade at Dunamu, is expected to further cement his status as a leading figure in the industry. Born in 1966, Lee began his career as a journalist in 1992. After two years in journalism, he decided to pivot his career and study law in the U.S., specializing as a tax system lawyer. Lee's entry into the IT industry began with his recruitment as a legal adviser at IBM Korea. He also served as a co-representative for Kakao. In 2017, Lee ventured into the cryptocurrency industry. Lee's repeated reappointments are a testament to his highly esteemed management abilities and skills in crisis resolution. He navigated effectively through major challenges, such as the 58 billion won ($44.1 million) cybertheft incident at Upbit in 2019 and the Terra-Luna crisis in 2022, which impacted not only Upbit but the entire virtual asset industry. As the chair of the Digital Asset eXchange Alliance (DAXA) — a consortium of five major crypto exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax — he represented the industry frequently in discussions with the government and the National Assembly. Over the past three years, Upbit has solidified its position as a leading crypto exchange, maintaining an 80 percent market share consistently. Beyond commission profits, Lee has also been instrumental in diversifying Dunamu's revenue streams, with investments in blockchain technologies like NFTs and the metaverse. It is expected that Lee will continue to pursue such initiatives during his third term. "I am committed to positioning Dunamu as a front-runner in the global fintech sector during the Web 3.0 era and fostering a robust investment culture. ESG initiatives that align with the characteristics of Dunamu will also be consistently advanced," Lee said.