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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 ten deputy governors including chief accountant 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 6, 2020, four senior deputy governors and ten deputy governors including chief accountant were performing their duties under the governor.

Yoon Suk Heun

Governor

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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.

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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.

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Kim Kun Ik

First Senior Deputy GovernorPlanning and Insurance

Kim Kun Ik is First Senior Deputy Governor in charge of planning and insurance. He was appointed to the post on June 5, 2020, by the Financial Services Commission with the recommendation of the Governor of the Financial Supervisory Service as provided in 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. Immediately prior to his appointment, he was the Commissioner of the Korea Financial Intelligence Unit.

Mr. Kim assumes his new role at the Financial Supervisory Service with extensive expertise in financial supervision and regulation. He joined the Financial Supervisory Commission in 2001 and worked on banking supervision and supervision policy. After becoming a division head in January 2005, he led market investigations, international affairs, and planning. In 2008, when the Financial Supervisory Commission was re-established as the Financial Services Commission, Mr. Kim became the head of the financial restructuring division under the Financial Policy Bureau. He also led planning and budget at the Planning and Coordination Bureau, banking regulation under the Financial Services Bureau, and planning and administration under the Planning and Administration Office of the Korea Financial Intelligence Unit until August 2012 when he was dispatched to the Presidential Council on National Competitiveness. Upon his return to the FSC in August 2015, Mr. Kim took over the Financial Consumer Protection Planning Team. In November 2015, he served as the acting FSC spokesperson and in April 2016 became deputy head of the Public-Private Regulation Advancement Initiative. Mr. Kim received a B.A. in economics and a master's degree in public administration from Seoul National University and an M.Sc. in economics from the London School of Economics and Political Science.

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Choi Seong IL

Senior Deputy GovernorBanks and Nonbanks

Choi Seong IL is Senior Deputy Governor in charge of bank and nonbank supervision. He was appointed to the post on June 5, 2020, by the Chairman of the Financial Services Commission with the recommendation of the Governor of the Financial Supervisory Service as provided in 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, he was Deputy Governor in charge of strategic supervision.

Mr. Choi started his financial supervision career in February 1987 at the Bank of Korea and moved to the FSS in July 2000. After working as a team head at the Nonbank Supervision Department in May 2003 and the Supervision Coordination Department in April 2004, he received a secondee assignment at the Federal Reserve Bank of New York in August 2005 and at the Office of the President in March 2008. In May 2013, he headed the Banking Supervision Department and led Korea's Basel III implementation. When he became the Director General in charge of supervision coordination in February 2015, Mr. Choi contributed to supervisory reform initiatives aimed at encouraging creative entrepreneurship and self-discipline of the financial industry. He also served as the Senior Director General of the IT & Financial Information Protection Department. Mr. Choi 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.

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Kim Do In

Senior Deputy GovernorCapital Markets and Accounting

Kim Do In is Senior Deputy Governor responsible for capital markets and accounting supervision. He was appointed to the post on June 5, 2020, by the Chairman of the Financial Services Commission with the recommendation of the Governor of the Financial Supervisory Service as provided in 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 post, he was Deputy Governor in charge of examination and supervision of financial investment services.

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. degree from Seoul National University in February 1988 and an LL.M. degree from Sungkyunkwan University in February 2006.

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Kim Eun Kyung

Senior Deputy GovernorChief of Financial Consumer Protection Bureau

Kim Eun Kyung took office as Senior Deputy Governor in charge of the Financial Consumer Protection Bureau on March 9, 2020. She was appointed to her new role by the Chairman of the Financial Services Commission with the recommendation of the Governor of the Financial Supervisory Service as provided under article 29(3) of the Act on the Establishment of the Financial Services Commission. She serves a three-year term that may be renewed once.

Ms. Kim joined the FSS with 14 years of experience as a professor of law at Hankuk University of Foreign Studies. Throughout her academic career, she frequently served as a member of various government committees such as the Credit Settlement Committee under the Ministry of Land, Infrastructure, and Transport and the Policy Research Committee under the Ministry of Justice. She also actively participated in a number of FSC and FSS committees that dealt with statutory interpretation deliberation, financial dispute resolution, public fund oversight, ombudsman, and sanctions. With her background in law, Ms. Kim was involved in consumer protection issues as well as a member of the Consumer Dispute Settlement Commission of the Korea Consumer Agency and as a board member of Korea Legal Aid Corporation and the Traffic Accident Compensation Supervisory Service. She earned an LL.B. (1990) and an LL.M. (1992) from Hankuk University of Foreign Studies and a Dr. jur. (1999) from the University of Mannheim.

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Kim Jong-min

Deputy GovernorPlanning and Management

Kim Jong-min is Deputy Governor in charge of the Planning and Management Division with responsibilities ranging from coordination to public affairs. He was appointed to the post on March 6, 2020, 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 began his career in financial supervision at the Bank of Korea in January 1991. With eight years of working experience at the Bank of Korea, he moved to the Financial Supervisory Service in 1999 when it was established as Korea's integrated supervisory authority. After becoming a team leader in 2007, Mr. Kim managed various supervision and administration teams including banking supervision, human resource development, planning and coordination, and corporate disclosure. He was promoted to Deputy Director General of the Bank Department 1 that is responsible for bank examination in 2014 and to Director General in charge of insurance compliance examination in 2017. Prior to his Deputy Governor appointment, he was the head of the General Affairs Department and the Planning and Coordination Department from February 2018 to February 2020. Mr. Kim received a B.A. in economics from Seoul National University in 1989 and an M.B.A. from the University of Arizona in 2004.

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Lee Jin-seok

Deputy GovernorStrategic Supervision

Lee Jin-seok is Deputy Governor in charge of the Strategic Supervision Division with responsibilities ranging from macroprudential supervision to financial group supervision. He was appointed to the post on March 6, 2020, 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.

Mr. Lee assumes his new post with extensive experience and expertise in financial supervision. He began his career in financial supervision at the Bank of Korea in January 1993. Since moving to the Financial Supervisory Service in 2000 after it was established as Korea's integrated supervisory authority, Mr. Lee has carried out a wide range of supervision and oversight duties including banking, asset management, and supervision administration. In 2008, he was promoted to the position of team leader at the Financial Hub Korea. After two stints at the Foreign Exchange Supervision Department and the Bank Department 2, Mr. Lee was promoted to Deputy Director General in charge of supervision coordination in 2015. He was then promoted to Director General responsible for financial market analysis in 2016 and bank supervision in 2017. Prior to his Deputy Governor appointment, he was Director General of Internal Inspection Office. Mr. Lee received a B.A. in business administration from Seoul National University in 1991 and an M.B.A. from Purdue University in 2003.

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Park Sangwook

Deputy GovernorInsurance Supervision

Park Sangwook was appointed to the post of Deputy Governor responsible for supervision of life and nonlife insurance on March 6, 2020. The appointment was made 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. Park assumed his new role with many years of experience and know-how in insurance supervision and examination. He began his career at the Insurance Supervisory Board in June 1992. He transferred to the Financial Supervisory Service in 2000 following the integration of the supervisory authorities. Early in his career, Mr. Park worked on various supervision specialty areas including investigation and consumer protection in addition to insurance supervision. From 2012 to 2016, he led a life insurance examination team, a corporate disclosure team, and a nonlife insurance examination team as team leader. In December 2016, he was promoted to the position of Deputy Director General of the Insurance Products Review Department. In January 2018, he headed the FSS Gyeongnam Regional Office and a year later the Life Insurance Examination Department. Mr. Park received a B.A. in English linguistics and language technology from Hankuk University of Foreign Studies in 1989 and an M.A. in business administration from University of Florida in 2007.

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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.

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Lee Seongjae

Deputy GovernorNonbank Supervision

Lee Seongjae was appointed to the post of Deputy Governor 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.

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.

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Kim Dong-hoe

Deputy GovernorFinancial Investment Services Supervision

Kim Dong-hoe is Deputy Governor responsible for the oversight of financial investment services that includes capital market and asset management supervision. He was appointed to the post by Governor Yoon Suk Heun on March 6, 2020, as provided in 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 started out his career in financial supervision in September 1989 at the Securities Supervisory Board and joined the Financial Supervisory Service in 2002 following the creation of the Financial Supervisory Service as the integrated supervisory authority. He led a number of supervision teams beginning with a securities examination team at the Securities Examination Department 1 in 2007. He then led a capital market support team at the Capital Market Service Department in 2008, a financial investment oversight team at the Financial Investment Supervision Department in 2011, a corporate disclosure system team at the Corporate Disclosure System Office in 2012, and an examination planning team at the Asset Management Examination Department in 2013. He was promoted to Deputy Director General of the Financial Investment Supervision Department in 2014 and Director of the Insurance Investigation Office in 2017. Prior to the Deputy Governor appointment, he was Director General of the Capital Market Supervision Department. Mr. Kim received a B.A. in business administration from Korea University in 1988 and an M.A. in financial engineering from Korea Advanced Institute of Science and Technology in 2002.

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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.

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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.

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Cho Young Ik

Deputy GovernorPreventive Consumer Protection

Cho Young Ik took office as Deputy Governor in charge of preventive consumer protection on March 6, 2020. 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 that may be renewed once.

Mr. Cho began his career in financial supervision in January 1995 at the Insurance Supervisory Board. After the Insurance Supervisory Board was integrated into the Financial Supervisory Service, he performed examination of insurance companies at the Insurance Examination Department from April 2002 to May 2005. After carrying out various administration responsibilities at the General Affairs Department, he moved to the Life Insurance Department in January 2009. In May 2011, he was promoted to team leader and managed several supervision teams including an asset management examination team, an insurance business examination team, a public affairs coordination team, and an insurance supervision coordination team. Mr. Cho was promoted to Deputy Director General of the General Affairs Department in February 2017, Director of the Insurance Business Examination Office in February 2018, and Director General of the Public Affairs Office in May 2018. Prior to his appointment, he was Director General of the Supervision Coordination Department. Mr. Cho earned a B.A. in commerce and trade from Sungkyunkwan University in 1995.

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Jung Sungwoong

Deputy GovernorConsumer Rights Protection

Jung Sungwoong took office as Deputy Governor in charge of consumer rights 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 the Senior Director General of the Illegal Finance Monitoring Department. Mr. Jung earned a B.A. in economics from Chung-Ang University in 1989.