Donggeol Lee, Chairman of K-Sure, Submits Resignation to Financial Services Commission

Dong-geol Lee, Chairman of the Korea Development Bank

[Asia Economy Reporter Song Hwajeong] Lee Dong-geol, Chairman of Korea Development Bank, has announced his intention to resign ahead of the new government’s inauguration.

According to financial circles on the 28th, Chairman Lee conveyed his intention to step down from his position to the Financial Services Commission on the 26th.

Although his term was set to last until September next year, it is understood that he decided to resign as the Presidential Transition Committee reviewed appointments for heads of public institutions ahead of the new government’s launch.

A Korea Development Bank official explained, "He plans to hold a press briefing next week to share his position and reflections."

Chairman Lee has been recognized as a prominent pro-Moon Jae-in figure and was considered a likely public institution head to be replaced under the new administration. He took office as chairman of Korea Development Bank with the start of the Moon Jae-in government in 2017, was reappointed once, and his term was scheduled to last until September next year.

He served as an administrative officer at the Blue House during the Kim Dae-jung administration, vice chairman of the Financial Supervisory Commission during the Roh Moo-hyun administration, and held positions such as president of the Korea Institute of Finance and invited professor at Dongguk University’s College of Business Administration.

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