Appointment of Export-Import Bank President... Accelerating the Selection of Heads of Financial Public Institutions

Shinbo and Geumgyeolwon to Conclude Soon... Credit Information Agency Also Expected to Proceed in Earnest

[Asia Economy Reporter Minwoo Lee] The position of President of the Export-Import Bank of Korea, which had been vacant for over a month, has been filled. The appointments of heads of major financial institutions, which had been delayed one after another since the launch of the new government, are expected to accelerate.

According to the financial sector on the 27th, Yoon Hee-sung, former Vice President of the Export-Import Bank, has been nominated as the 22nd President of the Export-Import Bank. This is the first time since the bank's establishment in 1976 that an internal candidate has been appointed as president. The appointment of heads of major financial institutions, which had been stalled for months due to the change of administration and negotiations over the National Assembly's organization, appears to be proceeding in earnest following the inauguration of Financial Services Commission Chairman Kim Ju-hyun earlier this month.

The Korea Credit Guarantee Fund completed the recruitment for the successor to Chairman Yoon Dae-hee, whose term expired in June. Multiple candidates have been recommended to the Financial Services Commission. The chairman of the Financial Services Commission proposes a candidate, and the president appoints them. The appointment is expected to be finalized as early as the beginning of next month. Previously, former auditor of the Korea Financial Telecommunications and Clearings Institute Choi Won-mok and Shin Sung-hwan, a professor of Business Administration at Hongik University who participated in the new government transition committee, were considered potential candidates. However, with Professor Shin being recommended as a new member of the Bank of Korea's Monetary Policy Committee, the possibility of former auditor Choi has increased. A Credit Guarantee Fund official stated, "We have recommended multiple candidates and cannot disclose individual candidates at this stage."

The Korea Financial Telecommunications and Clearings Institute has been in a situation where President Kim Hak-soo, whose term ended in April, has been working to prevent a management vacuum for three months, and the selection of a successor president is also in the final stages. Recently retired former Deputy Governor of the Bank of Korea Park Jong-seok was recommended by the candidate recommendation committee for the president of the institute and is currently undergoing employment approval review by the Government Ethics Committee. It is expected that he could take office as early as early or mid-next month.

The Korea Credit Information Services is also expected to start the process of appointing a new president soon. Similar to the Korea Financial Telecommunications and Clearings Institute, President Shin Hyun-joon has been serving even after his term expired in March. Since the first president, Min Sung-ki, was from the Bank of Korea and Shin Hyun-joon has experience in the Ministry of Finance and the Financial Services Commission, it is anticipated that a financial bureaucrat will be appointed.

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