Nominee Go Seung-beom, Chairman of the Financial Services Commission, "Heavy Responsibility... Financial Policy Tasks to Be Carried Out Without Hitches" (Comprehensive)

Emphasis on Preparing for Domestic and International Uncertainties Such as Household Debt and Asset Price Fluctuations

[Asia Economy Reporter Jin-ho Kim] Go Seung-beom, the nominee for Financial Services Commission Chairman, said on the 5th, "I feel a heavy responsibility as I take on an important role amid the ongoing difficulties caused by the COVID-19 crisis," adding, "I believe that the most important duty is to carry out financial policy tasks without any setbacks."

Go also emphasized, "Based on the policy direction pursued by my predecessors (Choi Jong-gu and Eun Sung-soo), I will actively promote financial support to fully overcome COVID-19 and restore the real economy."

He added, "We will thoroughly manage economic and financial risk factors such as household debt and asset price fluctuations, and prepare for both domestic and international uncertainties."

Furthermore, he stated that he would actively support the transition to a leading economy and finance through the promotion of the Korean New Deal, financial industry innovation, and digitalization, discovering future growth engines. He also emphasized strengthening the protection of financial consumers.

Regarding major issues, he explained, "I will communicate more with the media as preparations are made," and "I will cooperate more closely with the National Assembly, the Ministry of Economy and Finance, other government departments, the Bank of Korea, and the Financial Supervisory Service."

Meanwhile, Go is a financial expert who has held key positions within the Financial Services Commission. Returning to his home agency after five years, Go is highly regarded for his deep understanding of household debt, corporate restructuring, and the overall capital market, which are the biggest issues in the financial sector.

Born in 1962, he graduated from Gyeongbok High School in Seoul and Seoul National University with a degree in economics. He passed the 28th Administrative Examination. He has held various key positions including Director of Bank Supervision and Director of Supervisory Policy at the Financial Supervisory Commission, and Director of Financial Services, Director of Financial Policy, Secretary-General, and Standing Commissioner at the Financial Services Commission.

Notably, he demonstrated crisis management skills by leading the handling of the 2003 credit card crisis and the 2011 savings bank project financing (PF) insolvency crisis.

Since 2016, he has served as a member of the Monetary Policy Committee and began his second term in April last year. He is also the first person to succeed in reappointment since the revision of the Bank of Korea Act in 1998.

Go is expected to be appointed after going through the National Assembly’s confirmation hearing.

This content was produced with the assistance of AI translation services.