Kim Joo-hyun, President of the Korea Federation of Credit Finance, Nominated as Financial Services Commission Chairman

[Image source=Yonhap News]

[Asia Economy Reporter Song Hwajeong] Kim Juhyun (64), chairman of the Credit Finance Association, has been nominated as the first Financial Services Commission (FSC) chairman under the Yoon Seok-yeol administration.

According to political circles on the 11th, President Yoon Seok-yeol is expected to nominate Chairman Kim as the FSC chairman candidate as early as this week. With this, the new government’s economic team has been completed, including Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, Chief Presidential Secretary for Economic Affairs Choi Sang-mok, and FSC Chairman Kim Juhyun.

Chairman Kim is a career economic bureaucrat. He graduated from Jungang High School and Seoul National University’s Department of Economics, and passed the 25th Administrative Examination, making him a classmate of Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho. After starting his public service career at the Ministry of Finance, he served as Director of the Financial Policy Bureau at the FSC, Standing Commissioner of the Securities and Futures Commission, Secretary General of the FSC, and President of the Korea Deposit Insurance Corporation. Since 2019, he has held the position of chairman of the Credit Finance Association.

Amid the recent triple challenges of high inflation, high interest rates, and high exchange rates, along with growing concerns about an economic recession, Chairman Kim has been evaluated as the right person to solve these difficult issues. During the global financial crisis, he served as Director of the Financial Policy Bureau at the FSC, overseeing financial policy operations, and after moving to the Korea Deposit Insurance Corporation as president in 2012, he also achieved results in the privatization of Woori Financial Group.

Chairman Kim has been mentioned as a leading candidate for the next FSC chairman following the recent resignation of Ko Seung-beom, the current FSC chairman.

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