FSS appoints five new deputy governors

Cho Young-ik

By Lee Kyung-min

Financial Supervisory Service (FSS) Governor Yoon Suk-heun named five new deputy governors in a regular reshuffle, Thursday, whose three-year term begins today.

Former FSS spokesman Cho Young-ik will be in charge of financial consumer protection, a function of growing importance following a series of investment scandals involving the mis-selling of financial products, including derivative-linked funds (DLF).

Cho's extensive experience heading the oversight bureau is expected to strengthen the FSS's consumer protection, one of the key areas Yoon has focused on since his inauguration.

Kim Jong-min

The FSS organization's planning and management will be overseen by Kim Jong-min, whose previous role as a planning and policy coordination bureau head will be extended to improve organizational efficiency and innovation.

Kim has a bachelor's degree in economics from Seoul National University and a Master of Business Administration (MBA) from the University of Arizona.

Lee Jin-seok will be in charge of the strategic oversight division, while Park Sang-wook and Kim Dong-hoe will oversee the insurance and financial investment divisions, respectively.

The FSS said the new deputy governors were appointed based on their superb leadership, expertise and financial market knowledge. They will spearhead supervisory initiatives to bolster financial stability, healthy financial market operations and consumer protection.

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