Former prosecutor Lee Bok-hyun appointed to lead FSS

Chief economics officer for former President Park Geun-hye named to head KDB

By Anna J. Park

Financial Supervisory Service (FSS) Governor Lee Bok-hyun / Courtesy of FSS

Lee Bok-hyun, a former chief prosecutor with expertise in investigating financial crimes, has been appointed as the governor of the Financial Supervisory Service (FSS) on Tuesday afternoon. The former chief public prosecutor at the Seoul Northern District Prosecutors' Office has been engaged in various financial and economic investigations throughout his career. He is a Certified Public Accountant (CPA) license holder, in addition to having passed the bar exam.

“The nominee is evaluated to be a qualified candidate to carry out the FSS' various imminent tasks, including creating an ethical management environment for financial companies and improving consumer protection in the financial sector, considering his past experiences of achieving economic justice through investigating major economic and financial crimes during his career as a prosecutor,” said the Financial Services Commission (FSC), which has the right to recommend the candidate for FSS governor to the president.

The inaugural ceremony of the new FSS chief was held at 5 p.m. on Tuesday at the headquarters of the financial supervisory institution, located on Yeouido, Seoul.

Born in 1972, he graduated from Seoul National University with an economics degree. He passed the CPA examination in 1998, followed by the bar exam in 2000. With his understanding of finances, he is regarded as a specialist in investigating financial and tax crimes.

Kang Seog-hoon, a professor of economics at Sungshin Women's University, was appointed to lead Korea Development Bank (KDB) on Tuesday afternoon. Kang served as a chief economics officer during the Park Geun-hye administration. Yonhap

Meanwhile, Kang Seog-hoon, an economics professor at Sungshin Women's University and former presidential chief economics officer during the Park Geun-hye administration, was named to lead Korea Development Bank (KDB) on Tuesday afternoon.

After graduating from Seoul National University, Kang continued his studies at the University of Wisconsin-Madison, earning a doctorate in economics. He is known to be a versatile financial policy expert, having served as a lawmaker as well as a key presidential aide.