Home About FSS Who We Are Management

Management

The Financial Supervisory Service is headed by the governor, the top executive. Under the Establishment Act that created the Financial Supervisory Service, up to four senior deputy governors and nine deputy governors may be appointed. The chief executive auditor is the officer responsible for compliance and internal audit. The governor is appointed by the president with the recommendation of the chairman of the Financial Services Commission. The governor, the senior deputy governors, and the deputy governors each serve a three-year term that may be renewed once. As of March 1, 2018, four senior deputy governors and nine deputy governors were performing their duties under the governor.

Yoon Suk Heun

Governor

top

Yoon Suk Heun

Governor

Yoon Suk Heun was appointed the the thirteenth Governor of the Financial Supervisory Service by the President on May 4, 2018, after he was nominated for the post by the Chairman of the Financial Services Commission as provided for under article 29 of the Act on the Establishment of the Financial Services Commission. He serves a three-year term that may be renewed once.

After six years of work at the Bank of Korea from 1971 to 1977, Mr. Yoon took a faculty position at McGill University in Canada as an associate professor in 1983 just before he earned a Ph.D. in business administration the following year and taught at McGill until 1991. Upon his return to Korea, Mr. Yoon worked as a senior research fellow at the Korea Institute of Finance until 1997 and joined the faculty of the Department of Finance at Hallym University the following year. In 2010, he assumed a teaching position at the School of Finance, Soongsil University, and in 2016 at the College of Business Administration, Seoul National University, as a visiting professor.

Throughout his academic career, Mr. Yoon actively contributed to public policy endeavors in various capacities, including the president of Korean Finance Association in 2002 and the president of Korea Money & Finance from 2005 to 2006 and a member of the National Economic Advisory Council to the President from 2010 to 2011. Immediately prior to his appointment for Governor, he also served as the chairman of both the Financial Administration Reforms Committee and the Financial Development Review Committee directly under the Financial Services Commission.

Mr. Yoon earned a B.A. in business administration from Seoul National University in 1971, an M.B.A. from Santa Clara University in 1979, and a Ph.D. in business administration from Northwestern University in 1984.

top

Kim Woo-Chan

Chief Executive AuditorInternal Audit and Compliance

Kim Woo-Chan is the Chief Executive Auditor responsible for internal audit and compliance at the FSS. He was appointed to the post by the President with the recommendation of the Chairman of the Financial Services Commission on March 12, 2018, for a three-year term as provided for under article 29(4) of the Act on the Establishment of the Financial Services Commission. His three-year term, which ends on March 11, 2021, may be renewed once.

Mr. Kim has joined the FSS with a distinguished career in law enforcement as a government prosecutor and in the judiciary as a judge. Prior to the appointment, Mr. Kim worked as the chief counsel at a law firm and as a director at the Korean Bar Association. He began his law enforcement career as a junior prosecutor at the Cheongju District Prosecutors' Office in 1991 and later worked at the Busan District Prosecutors' Office and Seoul Western District Prosecutors' Office. In March 1998, Mr. Kim was selected for a judgeship and assigned to the Daegu District Court. In February 2003, he served at the Seoul High Court and two years later at the Seoul Central District Court. Mr. Kim earned an undergraduate degree in law from Kyung Hee University and passed the state bar examination in 1988.

top

Yoo Kwang-yeol

First Senior Deputy GovernorOrganization Management, Coordination, and Planning

Yoo Kwang-yeol is First Senior Deputy Governor in charge of organization planning and management. He took office on November 20, 2017, following the recommendation of the Governor of the Financial Supervisory Service and confirmation by the Financial Services Commission as provided for under article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which ends on November 19, 2020, and may be renewed once.

After starting his public sector career in 1987 at the Ministry of Food, Agriculture, Forestry, and Fisheries, Mr. Yoo moved to the Economic Planning Board in 1989. In May 1997, he again transferred to the Ministry of Finance and Economy, where he advanced to become Director of Industry Division of the Policy Coordination Bureau in August 2004 and Director of Innovation and Human Resources Development Office in April 2007. From 2008 to 2011, he was Minister-Counselor for Economic and Financial Affairs at the Korean Embassy in China. He was then promoted to Deputy Director General of the International Finance Bureau in 2011 and Director General of the International Financial Cooperation Bureau in 2013 at the Ministry of Strategy and Finance (formerly the Ministry of Finance and Economy). He became Commissioner of the Korea Financial Intelligence Unit ("KoFIU"), Korea's AML/CFT agency under the Financial Services Commission, in July 2016, and Standing Commissioner of the Securities and Futures Commission in February 2017. Mr. Yoo received a B.A. in economics and an M.A. in public administration from Seoul National University in 1986 and 1988, respectively. He also earned a Ph.D. in economics from the University of Texas at Austin in 1997.

top

Kwon Inwon

Senior Deputy GovernorBanks and Nonbanks

Kwon Inwon took office as Senior Deputy Governor in charge of bank and nonbank supervision on December 22, 2017. He was recommended by the Governor of the Financial Supervisory Service and confirmed by the Financial Services Commission as provided for under article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once.

Mr. Kwon first joined the Financial Supervisory Service in 1999 with 15 years of experience in banking supervision at the Bank of Korea. At the FSS, he performed supervision duties as a team head at various departments including the Insurance Supervision Department in 2000, the Planning and Coordination Department in 2002, and the Insurance Examination Department 1 in 2005. Following a stint as the deputy head of the Change Management Task Force in June 2008, he was promoted to take charge of the Enforcement Review Office in November 2008. He then became Director General of the Internal Audit Office in March 2009, Director General of the Financial Risk Examination Support Department in March 2010, and Director General of the Supervision Coordination Department in April 2011. In May 2013, he was promoted to the position of Deputy Governor responsible for planning and management. Immediately prior to his post, he was Executive Director at the Korea Housing Finance Corporation. Mr. Kwon received a B.A and an M.A. in economics from Korea University in 1984 and 1996, respectively.

top

Won Seung-yeon

Senior Deputy GovernorCapital Markets and Accounting

Won Seung-yeon took office as the Senior Deputy Governor responsible for capital market supervision on November 20, 2017. He was recommended by the Governor of the Financial Supervisory Service and confirmed by the Financial Services Commission as provided for under article 29-3 of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which ends on November 19, 2020, and may be renewed once.

Mr. Won began his professional career in March 1991 at an economic research institute under the Korea Life Insurance Association and later the same year moved to another think tank as a research fellow. In 1997, he took a position at Samsung Life Insurance and worked on financial products, credit facilities, and offshore investment, and in 2001 moved to KEB Commerz Investment Trust Management to head the bond management department. After assuming the position of the Chief Investment Officer at Shinhan BNP Paribas Asset Management in December 2002 and at Kyobo AXA Investment Managers in May 2004, he became an adjunct professor at the School of Economics and Finance of Yeungnam University in September 2006, then joined the faculty at the College of Business Administration of Myongji University in March 2010, where he had taught until his appointment at the FSS. He earned a B.A (1987), an M.A. (1989), and a Ph.D. (1996) in economics from Seoul National University.

top

Lee Sangche

Senior Deputy GovernorInsurance and Financial Consumer Protection

Lee Sangche took office as Senior Deputy Governor responsible for consumer protection on December 22, 2017, following the recommendation of the Governor of the Financial Supervisory Service and confirmation by the Financial Services Commission as provided for under article 29-3 of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once.

Mr. Lee joins the FSS with decades of expertise in economic and financial policy research and analysis. Upon completing his studies, Mr. Lee became a research fellow at the Korea Institute of Finance (KIF), a widely recognized think tank in Korea. After advancing to senior research fellow positions at the KIF, he became Senior Advisor to the Chairman of the Financial Services Commission (FSC) in 2005 and Economic Advisor to the Minister of Strategy and Finance in 2009. During this period, Mr. Lee also served on a number of government inquiries and advisory boards. In 2011, he was appointed Standing Commissioner at the FSC, where he performed regulatory policy functions ranging from rule making to investor protection. He returned to the KIF in 2015 as Senior Fellow and Director of the Center for International Financial Cooperation. Mr. Lee received a B.A. (1984) and an M.A. (1986) in economics from Seoul National University. He also earned a Ph.D. in economics from Columbia University in New York in 1998.

top

Min Byungjin

Deputy GovernorPlanning and Management

Min Byungjin took office as Deputy Governor in charge of planning and management on November 20, 2017. He assumed his duty with the appointment of the Governor of the Financial Supervisory Service pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once.

Mr. Min began his career in financial supervision in January 1990 at the Bank of Korea and moved to the Financial Supervisory Service in 1999, when the Office of Banking Supervision under the Bank of Korea was integrated into the Financial Supervisory Service in January 1999. After performing various supervision duties at the supervision and coordination departments, he was promoted to the position of team head in January 2005 in the supervision department charged with the oversight of financial holding companies, derivatives, IT, and pension. He then worked at the FSS Representative Office in London and returned to Korea in September 2010 to lead a mutual savings bank supervision team. He became the head of the Corporate Credit Department in April 2014, the head of the secretary's office in February 2015, and the head of the Bank Department 1 in February 2016. Immediately prior to his appointment, he was Director General of the Bank Supervision Department. Mr. Min received a B.A. in business administration from Seoul National University in 1990 and an M.B.A. from Thunderbird School of Global Management, Arizona State University in 2002.

top

Choi Seong IL

Deputy GovernorStrategic Supervision

Choi Seong IL was appointed Deputy Governor of the Financial Supervisory Service (FSS) of Korea by the Governor of the FSS on November 20, 2017. His primary responsibility is to coordinate supervisory approaches to better meet the strategic objectives of the FSS. He also focuses on developing supervisory frameworks to further improve financial institutions' governance, culture, and accountability and upgrading operational risk management and compliance functions. In addition, he addresses supervisory issues with regards to systemic risks, anti-money laundering, credit information, financial conglomerates, and legal affairs.

Prior to his current post, he led the FSS's fintech initiative by promoting responsible innovation, emphasizing a balance between creative entrepreneurship and consumer protection. During his tenure as the head of the Bank Supervision Department, he oversaw the implementation of Basel III and focused on promoting financial system soundness by identifying and responding to macroprudential challenges such as growing household debt. Before he joined the FSS, he worked at the Bank of Korea from 1987 to 1998. During his tenure at the central bank, he mainly focused on supervising the capital adequacy and risk management of commercial banks. He earned a B.A. in economics from Seoul National University in 1987, an M.B.A. from the University of Chicago Booth School of Business in 2000, and a Ph.D. in finance from Chung-Ang University in 2016.

top

Kim Dong Sung

Deputy GovernorBank Supervision

Kim Dong Sung is the Deputy Governor responsible for bank supervision. He was appointed to the post on January 21, 2019, by Governor Yoon Suk Heun of the Financial Supervisory Service pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term that may be renewed once.

Mr. Kim assumes his new role with extensive supervision expertise in financial markets. He began his career in financial supervision at the Insurance Supervisory Board in April 1991. After moving to the Financial Supervisory Service in 1999 following the integration of financial supervision, Mr. Kim performed a range of oversight duties at insurance supervision departments. In 2006, he led a life insurance team under the Insurance Actuary Office and then worked at the FSS Representative Office in New York. Upon his return in January 2012, he headed an organization and budgeting team under the Planning and Coordination Department before he was promoted to Deputy Director General of the Supervision Coordination Department in May 2013 and then to Director General of the Financial Market Analysis Department in March 2015. He then served as the head of the Insurance Actuary Office in February 2016 and the head of the Supervision Coordination Department in July 2016. Immediately prior to his new role, he was Director General of the Planning and Coordination Department. Mr. Kim received a B.A. in economics from Seoul National University in 1991 and an M.A. in global management from the Thunderbird School of Global Management, Arizona State University, in 2001.

top

Yoon Chang-eui

Deputy GovernorNonbank Supervision

Yoon Chang-eui was appointed Deputy Governor responsible for nonbank supervision on November 20, 2017. He assumed his duty with the appointment of the Governor of the Financial Supervisory Service as provided for under article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once.

Mr. Yoon began his career in September 1995 at the Korea Non-bank Deposit Insurance Corporation, which became integrated with other supervisory authorities to form the Financial Supervisory Service in January 1999. After working at various bank and nonbank examination departments as well as the human resources office, he was promoted to lead a team in charge of examination and inspection of capital market entities and activities in May 2011. Mr. Yoon then headed a team responsible for the examination of mutual savings banks in May 2013. After successfully completing a secondment assignment at a municipal government, he returned to the Financial Supervisory Service to lead the Mutual Savings Bank Department in 2016. Immediately prior to his appointment, he headed the secretary's office for the Governor. Mr. Yoon earned an LL.B. from Kyung Hee University in 1987 and an M.B.A. from Sungkyunkwan University in 2008.

top

Kim Do In

Deputy GovernorFinancial Investment Services Supervision

Kim Do In is the Deputy Governor in charge of examination and supervision of financial investment services. He was appointed to the post by Governor Choe Heungsik of the Financial Supervisory Service on November 20, 2017, pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once.

Mr. Kim began his public sector career in January 1989 as a staff supervisor at the Securities Supervisory Board, which was later integrated with other supervisory authorities to create the Financial Supervisory Service in January 1999. After joining the Financial Supervisory Service, Mr. Kim performed various supervision duties at the Supervision Department 7, which at the time was responsible for asset management and pension supervision. He then assumed his duties as a team head at the Asset Management Supervision Department and at the Financial Holding Company Service Department before becoming Director of the Asset Management Supervision Office in May 2013. Mr. Kim then worked as the head of the Asset Management Examination Department for a year from February 2015 and took charge of the Corporate Disclosure Department in February 2016. Mr. Kim earned an LL.B. from Seoul National University in February 1988 and an LL.M. from Sungkyunkwan University in February 2006.

top

Jang Joon-kyung

Deputy GovernorDisclosure and Investigation

Jang Joon-kyung took office as the Deputy Governor responsible for disclosure and investigation on January 21, 2019, after he was appointed to the position by Governor Yoon Suk Heun pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term that may be renewed once. Prior to his appointment, Mr. Jang headed the Human Resources Development Office at the Financial Supervisory Service.

Mr. Jang began his career at the Securities Supervisory Board in 1986 and joined the Financial Supervisory Service when it was established as the integrated supervisory authority in 1999. Throughout his career at the Financial Supervisory Service, he served in a number of positions in securities and asset management oversight including capital market supervision and investigation, securities examination, corporate disclosure, and asset management supervision. He led a general coordination team under the General Coordination Department in 2006. In 2010, he became the Deputy Director General of the Capital Market Investigation Department 1 where he oversaw investigation of market abuses and misconduct. He then headed the Asset Management Supervision Office in April 2014, the Corporate Disclosure Department in February 2015, the Capital Market Supervision Department in February 2016, the General Affairs Department in December 2017, and the Human Resources Development Office in February 2018. Mr. Jang received a B.A. and an M.A. in economics from Konkuk University in 1986 and in 1988, respectively, and an M.B.A. from the Korea Advanced Institute of Science and Technology in 2006.

top

Park Gweonchu

Chief AccountantAccounting Supervision

Park Gweonchu is the Chief Accountant responsible for accounting supervision. He was appointed to the post on November 20, 2017, by Financial Supervisory Service Governor Choe Heungsik pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once. As Chief Account, Mr. Park assumes the primary responsibility for wide-ranging accounting and audit oversight, including audit inspection of financial filings by publicly traded companies and quality control for financial statement audit.

Mr. Park started out his professional career in securities supervision in September 1993 at the Securities Supervisory Board, which became integrated with other supervisory authorities to create the Financial Supervisory Service in January 1999. After working in accounting and securities supervision, he was promoted to be a team leader under the Corporate Accounting System Office and Accounting Supervision Department 1. In March 2015, Mr. Park became Deputy Director General of the Audit Review Department. Immediately prior to his appointment, he had successfully completed a secondment appointment at the Korean Institute of Certified Public Accountants. Mr. Park earned a B.A in taxation from the University of Seoul in 1989, a graduate degree in business administration from Seoul National University in 2008, and a Ph.D. in accounting from Chung-Ang University in 2014.

top

Lee Seongjae

Deputy GovernorInsurance Supervision

Lee Seongjae was appointed to the post of Deputy Governor for insurance supervision on January 21, 2019, by the Governor of the Financial Supervisory Service pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term that may be renewed once. In his new role, Mr. Lee assumes the primary responsibility for the safety and soundness supervision of life and nonlife insurance companies. Immediately prior to his appointment, Mr. Lee headed the Credit Finance Examination Department.

Mr. Lee began his public service career in January 1988 as a staff supervisor at the Banking Supervision Authority, which was later integrated with other supervisory authorities to create the Financial Supervisory Service in January 1999. After joining the Financial Supervisory Service, Mr. Lee performed various supervision duties and managed supervision teams under the Credit Supervision Department and the Human Resources Development Office. After working at the FSS Representative Office in London, he returned to the FSS in December 2011 to lead a corporate credit team. He then took the position of Deputy Director at the Bank Examination Department 2 in April 2014 and the head of the Insurance Business Examination Office in February 2015 before taking charge of the Insurance Compliance Examination Department in February 2016 and the Bank Compliance Examination Department in May 2017. He earned a B.A. in economics from Pusan National University in 1986, an M.A. in business administration from Seoul National University in 1988, and an M.Sc. in insurance and risk management from City, University of London, in 2003.

top

Jung Sungwoong

Deputy GovernorConsumer Protection

Jung Sungwoong took office as Deputy Governor in charge of consumer protection on November 20, 2017. He was appointed to the post by the Governor of the Financial Supervisory Service pursuant to article 29(3) of the Act on the Establishment of the Financial Services Commission. He serves a three-year term, which may be renewed once.

Mr. Jung began his career in financial supervision in October 1989 at the Korea Non-bank Deposit Insurance Corporation. After the Korea Non-bank Deposit Insurance Corporation was integrated into the Financial Supervisory Service in January 1999, he performed examination of credit institutions from January 1999 until November 2000 when he was assigned to conduct internal audit. He then headed an IT team in April 2004, a macroprudential supervision team in January 2005, and a mutual savings bank service team in June 2008. Following a secondment assignment at the Korea Deposit Insurance Corporation in 2010, Mr. Jung managed the Human Resources Development Office in 2011, the Public Affairs Office in 2013, and the Cooperative Finance Examination Department in 2015. Prior to the appointment, he was Senior Director General of the Illegal Finance Monitoring Department. Mr. Jung earned a B.A. in economics from Chung-Ang University in 1989.

top

Seol Inbai

Deputy Governor

Seol Inbai was appointed to the post of Deputy Governor on November 20, 2017. As Deputy Governor, he oversees work specialization training and other tasks as directed by Governor. He started out his professional career at the Insurance Supervisory Board in December 1989 and moved to the Financial Supervisory Service after it was established as the integrated supervisory authority in January 1999. After performing various prudential supervision and consumer protection duties at the insurance examination and dispute settlement departments, he became the head of a supervision team performing oversight duties involving examination and dispute settlement. After working at the Korea Insurance Development Institute on a secondment assignment in 2012, he returned to the FSS the following year to lead insurance examination. Prior to his appointment, Mr. Seol headed the Public Affairs Office and the Financial Consumer Protection Department. He earned a B.A. in economics from Yonsei University in 1990.