Kim Seongsik, KDIC President: "We Will Serve as Guardians of Financial Market Stability"

Inauguration Ceremony Held on January 7
Strengthening Proactive Crisis Response Capabilities
Emphasis on Reforming Deposit Insurance System and Protecting Financial Consumers

Kim Seongsik, the newly appointed President of the Korea Deposit Insurance Corporation, is speaking at the inauguration ceremony held on the 7th. Photo by Korea Deposit Insurance Corporation

Kim Seongsik, the newly appointed President of the Korea Deposit Insurance Corporation, stated on January 7 that he will "strengthen proactive crisis response capabilities to serve as a guardian of financial market stability."

At the inauguration ceremony held that day, President Kim emphasized three key priorities: strengthening proactive crisis response capabilities, reforming the deposit insurance system with a future-oriented approach, and enhancing the protection of financial consumers.

To achieve these goals, President Kim called for the completion of the introduction of the Financial Stability Account, improvements to the Recovery and Resolution Plan (RRP) for large financial institutions, and the enhancement of the differential insurance premium rate system. He also stressed the need to improve the deposit insurance premium rate structure, including the liquidation of the repayment fund.

To strengthen financial consumer protection, he urged efforts to address blind spots by establishing a tailored deposit insurance system and protecting new types of financial products arising from the digital financial environment.

President Kim added, "The Korea Deposit Insurance Corporation, together with the Financial Services Commission, the Ministry of Economy and Finance, the Bank of Korea, and the Financial Supervisory Service, is a core institution responsible for financial stability in Korea. Even in challenging times for the financial market, we must remain a strong pillar of support for the people."

Meanwhile, President Kim graduated from the Seoul National University School of Law in 1988 and has served as a judge and lawyer for over 30 years. He passed the bar exam in the same year as President Lee Jaemyung. It is known that he served as a member of the defense team for President Lee during the abuse of power trial when Lee was Governor of Gyeonggi Province.