Yoon Seok-heon, Governor of the Financial Supervisory Service, is attending the 'Real Estate Market Inspection Meeting of Related Ministers' held at the Government Seoul Office in Jongno-gu, Seoul on the 6th. Photo by Kim Hyun-min kimhyun81@
[Asia Economy Reporter Jin-ho Kim] Yoon Seok-heon, Governor of the Financial Supervisory Service (FSS), will officially retire tomorrow after completing his three-year term. Due to delays in appointing his successor amid the government reshuffle, it seems inevitable that the acting Senior Deputy Governor will lead the agency for the time being.
According to the FSS on the 6th, Governor Yoon will hold a farewell ceremony at 5 p.m. on the 7th in the auditorium on the 2nd floor of the FSS building. The ceremony will be held with a minimal number of attendees in accordance with strengthened COVID-19 prevention measures.
Governor Yoon is the third to complete a full three-year term at the FSS, following former governors Yoon Jeung-hyun and Kim Jong-chan.
Initially, there was speculation that Governor Yoon might be reappointed as no rumors or successor appointments emerged until his term was about to end. However, issues such as responsibility for private equity funds and labor-management conflicts over personnel matters surfaced, leading to his departure from the FSS.
The FSS plans to operate under the acting Senior Deputy Governor Kim Geun-ik for the time being. It is expected that the Blue House will finalize the appointment of the FSS governor only after the positions of Acting Prime Minister and Deputy Prime Minister for Economy Hong Nam-ki and Financial Services Commission Chairman Eun Sung-soo are confirmed.
External candidates mentioned so far for the FSS governor position include Chung Eun-bo, Ambassador for the Korea-US Defense Cost-Sharing Negotiations; Kim Yong-beom, former 1st Vice Minister of Strategy and Finance; Kim Jong-ho, former Senior Secretary for Civil Affairs at the Blue House; Jung Jae-wook, former president of KDB Life Insurance; and Choi Un-yeol, former member of the National Assembly. Internal candidates include Senior Deputy Governor Kim and Director of the Financial Consumer Protection Bureau Kim Eun-kyung. The FSS governor is appointed by the President following the resolution and recommendation of the Financial Services Commission.
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