Financial Supervisory Service Appoints Former Deputy Minister of Strategy and Finance Lee Chan-woo as Senior Deputy Governor

Deputy Directors Kim Jong-min and Kim Dong-hoe Promoted to Directors

Lee Chan-woo, Deputy Minister for Policy Coordination, Ministry of Economy and Finance

[Asia Economy Reporter Jin-ho Kim] The Financial Supervisory Service (FSS) has carried out executive personnel changes just over two months after the inauguration of Director Jeong Eun-bo. In this reshuffle, three out of the four deputy directors were replaced.

On the 22nd, the Financial Services Commission held an extraordinary meeting and announced the appointment of Lee Chan-woo, Chairman of the Gyeongsangnam-do Economic Innovation Promotion Committee, as the Senior Deputy Director of the FSS. Kim Jong-min, the current Deputy Director for Planning and Management, was appointed as Deputy Director in charge of Banking and Small and Micro Finance for the Underprivileged, and Kim Dong-hoe, the current Deputy Director for Financial Investment, was appointed as Deputy Director for the Financial Investment sector.

Chairman Lee is a 31st Administrative Examination pass and has long served at the Ministry of Strategy and Finance. He is known to be a close associate of Director Jeong, having worked closely together at the Ministry of Strategy and Finance. He is also the younger brother of Lee Yong-woo, a member of the Democratic Party of Korea. Kim Geun-ik, the Senior Deputy Director who led the FSS before Director Jeong's appointment, is reported to be moving to the Korea Exchange.

Personnel appointments for deputy directors and auditors are expected to take place around mid to late next month.

The FSS currently has a total of 14 executives (4 deputy directors and 10 deputy directors) excluding the vacant auditor position. Deputy directors of the FSS are appointed by the Financial Services Commission upon the recommendation of the FSS Director. Deputy directors are appointed directly by the Director but require personnel screening by the Blue House.