Joon Kyung Kim
HOPE BANCORPAbout Joon Kyung Kim
Joon Kyung Kim (age 66) is an independent director at Hope Bancorp, Inc. (HOPE), serving as Deputy Lead Independent Director since May 23, 2024, and Chair of the Audit Committee; he joined the Board on October 1, 2019. A Certified Public Accountant, he retired from KPMG LLP in 2019 after serving as National Partner in Charge of KPMG’s Korean practice since 2005; he holds a B.S. in Business Administration from the Haas School of Business at the University of California, Berkeley .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| KPMG LLP | National Partner in Charge, Korean Practice; Partner | 1999–2019 (joined firm in 1983; retired Sep 30, 2019) | Led audits, operational reviews, credit risk reviews, controls advice across banking and multiple industries; strategic consulting on disruptive tech |
| Department of Financial Protection and Innovation (formerly CA Dept. of Corporations) | Field Examiner | 1981–1983 | Regulatory examinations; bank oversight foundation |
External Roles
| Company | Role | Tenure | Committees |
|---|---|---|---|
| DZS, Inc. (NASDAQ: DZSI) | Director | 2019–Mar 14, 2025 | Audit, Compensation, Nominating & Corporate Governance; resigned Mar 14, 2025 |
Board Governance
- Independence and leadership: Independent director; Deputy Lead Independent Director since May 23, 2024; Board has independent Lead Independent Director; executive sessions of independent directors are conducted by the Lead Independent Director .
- Committee assignments: Audit Committee (Chair; designated financial expert), Nomination & Governance Committee, Board Risk Committee; Audit Committee members are independent; multiple members, including Kim, designated “audit committee financial experts” .
- Attendance: All current directors attended at least 75% of Board and committee meetings in 2024 and attended the 2024 annual meeting; Audit Committee held 15 meetings; Nomination Committee 6; Compensation Committee 8; Board Risk Committee 8; Executive Committee 6; joint Board/Bank meetings totaled 10 in 2024 .
- Risk oversight: As Audit Chair, Kim signed the Audit Committee Report affirming oversight of financial reporting, internal controls, auditor independence (Crowe LLP), and PCAOB-required discussions; the Board Risk Committee oversees cybersecurity and AI use policy .
Fixed Compensation
| Year | Cash Fees | Equity (RSUs Fair Value) | Other (Health in-lieu) | Total |
|---|---|---|---|---|
| 2024 | $67,500 | $72,000 | $15,000 | $154,500 |
Director fee schedule (effective May 23, 2024):
- Annual director retainer: $54,000 cash; $54,000 equity; $15,000 other .
- Deputy Lead Independent Director: $9,000 cash; $9,000 equity (new fee implemented in 2024) .
- Committee Chair (e.g., Audit): $9,000 cash; $9,000 equity (increased from $7,200) .
Grant mechanics:
- RSUs granted at the annual meeting grant date; vest on one-year anniversary or upon next annual meeting; 2024 grant date was July 3, 2024 at closing price $10.51 .
Performance Compensation
| Award Type | Quantity | Grant Date | Grant Date Fair Value | Vesting | Performance Metrics |
|---|---|---|---|---|---|
| RSUs (2024) | 6,850 | Jul 3, 2024 | $72,000 | One-year time-based vesting | None disclosed for director awards (time-based) |
| Stock Options | — (no outstanding options) | — | — | — | — |
Directors receive time-based RSUs; no director-specific performance metrics (e.g., PSU/TSR goals) are disclosed for non-employee director awards .
Other Directorships & Interlocks
- External public board: DZS, Inc.; committees: Audit, Compensation, Nominating & Corporate Governance; resignation Mar 14, 2025 .
- Compensation committee interlocks at HOPE: None; no insider participation; no cross-committee interlocks reported .
Expertise & Qualifications
- Accounting, auditing, and financial reporting; banking and regulatory compliance; finance and capital markets .
- Audit Committee financial expert designation; extensive leadership in audit and risk advisory across industries .
- Education: B.S. Business Administration, UC Berkeley (Haas) .
Equity Ownership
| Item | Value |
|---|---|
| Target shares to satisfy director ownership guideline (3× retainer) | 13,181 shares (based on $162,000 ÷ $12.29 at 12/31/2024) |
| Shares held directly/indirectly | 29,067 shares |
| Guideline status | Satisfied |
| Unvested RSUs outstanding (12/31/2024) | 6,850 |
| Options outstanding (12/31/2024) | None |
| Ownership guidelines policy | 3× cash retainer; 5 years to comply; includes vested shares and time-based unvested RSUs |
| Anti-hedging/anti-pledging | Hedging prohibited; pledging prohibited with limited exceptions requiring demonstrated repayment capacity and Legal approval |
Governance Assessment
- Board effectiveness: Kim’s Audit Chair role and “financial expert” status strengthen oversight of financial reporting, internal controls, and auditor independence; he co-leads independent oversight as Deputy Lead Independent Director, supporting executive session governance and agenda setting in collaboration with the Chair .
- Independence and engagement: Affirmatively determined independent; multiple committee roles (Audit Chair, Nomination, Board Risk); all directors met ≥75% attendance and attended the annual meeting, supporting active oversight .
- Alignment and incentives: Director pay mix balances cash and equity with time-based RSUs and increased chair/deputy LID retainers; Kim complies with ownership guidelines (≥3× retainer), reinforcing skin-in-the-game .
- Conflicts/related-party exposure: No material related-party transactions disclosed beyond ordinary-course banking relationships reviewed under the Company’s policies; Audit Committee (independent) oversees related-person transactions per Regulation S‑K Item 404 .
- Risk indicators: Anti-hedging/pledging policies reduce misalignment risk; Compensation Committee interlocks absent; external directorship at DZS concluded in March 2025, limiting potential interlock concerns; no legal proceedings or sanctions disclosed in director bio section .
Overall signal: Strong governance credentials (Audit Chair, financial expert, independent leadership role), solid engagement, and clear ownership alignment. No disclosed red flags on conflicts, attendance, or hedging/pledging; director equity is time-based RSUs without performance metrics, which is standard for non-employee directors .