Kwon Daeyoung, Praised by President for "Stabilizing Housing Prices," Appointed Vice Chairman of Financial Services Commission

Kwon Daeyoung Appointed as Vice Chairman of the Financial Services Commission
Recognized as a Crisis Response Expert for Handling Financial System Shocks
Praised for Devising Real Estate Loan Restrictions Amid Rising Seoul Housing Prices

Kwon Daeyoung, Vice Chairman of the Financial Services Commission. Photo by Kang Jinhyung aymsdream@

On July 20, President Lee Jaemyung appointed Kwon Daeyoung, the current Secretary General of the Financial Services Commission, as Vice Chairman of the Financial Services Commission, a vice-ministerial-level position.

Vice Chairman Kwon, a native of Jinhae, Gyeongnam, graduated from Korea University with a degree in business administration and entered public service after passing the 38th Higher Civil Service Examination. He has held key positions within the Financial Services Commission, including Director of the Financial Policy Division, Director General of the Financial Policy Bureau, and Director General of the Financial Industry Bureau.

Within the Financial Services Commission, Vice Chairman Kwon is regarded as a crisis response expert with extensive hands-on and policy experience. From the 'Legoland crisis' at the end of 2022, to the 2023 Saemaeul Geumgo bank run, and the Taeyoung Construction workout crisis, he has played a practical role as the 'head of countermeasures' within the government whenever various crises have arisen.

Recently, as housing prices in Seoul have risen significantly and household loans have increased sharply, he drew attention by devising a household debt stabilization plan that limits the maximum amount of mortgage loans in the Seoul metropolitan area to 600 million won.

At a recent town hall meeting held at the Daejeon Convention Center, when Secretary General Kwon stood up to answer a question about debt adjustment, President Lee publicly praised him, saying, "So this is the person. He is the one who devised the recent real estate loan restriction measures. Well done."

Kang Yujeong, spokesperson for the Presidential Office, emphasized that Vice Chairman Kwon is "a crisis response financial expert who is hands-on and has designed and implemented highly effective livelihood finance policies, such as the Fresh Start Fund and the Safe Conversion Loan, during the COVID-19 crisis."