FSS Deputy Governor Lee Will Head Life Insurers Association
By Yoon Ja-young
Staff Reporter
Lee Woo-cheol, deputy governor at the Financial Supervisory Service, has been designated head of the Korea Life Insurance Association.
The association announced Tuesday that Lee was recommended as the single candidate by its subcommittee to succeed Namkoong Hoon, the present chairman.
Lee will be appointed as chairman of the life insurers' association at the general assembly scheduled this Friday, which will be attended by CEOs of the member life insurance companies. ``Since Lee was recommended as the single candidate, he is likely to be appointed as chairman,'' a spokesman of the association said.
Born in Nonsan, South Chungcheong Province in 1948, Lee graduated from Kyunggi High School and majored in law at Seoul National University.
He started his career in the public sector after passing the government exam for ranking officials. He built up expertise in the financial industry, ranging from securities companies to insurance, by serving at the finance ministry and then later at the financial regulator.
Lee is also known to go to the same church as President Lee Myung-bak ― Somang Church in southern Seoul, which is known as the church of the elite.