Bae Jun-seok, Deputy Governor of the Bank of Korea, Appointed Auditor of the Korea Federation of Banks

Bae Joon-seok, Deputy Governor of the Bank of Korea, is moving to the position of auditor at the Korea Federation of Banks. This will be the third time a Bank of Korea alumnus has taken on the auditor role at the Federation.

According to the financial industry on the 24th, Deputy Governor Bae is expected to be appointed as the next auditor of the Korea Federation of Banks next month. After the general meeting's resolution and approval by the Financial Services Commission, he is likely to begin a three-year term.

Bae, born in 1965, graduated from Sangmun High School and earned both his bachelor's and master's degrees in law from Korea University. Since joining the Bank of Korea in 1991, he has worked in various departments including the Policy Planning Bureau, General Affairs Bureau, Research Bureau, Financial Stability Bureau, Legal and Regulatory Affairs Office, and Planning and Cooperation Bureau. In July 2008, he obtained a Ph.D. in law from Indiana University in the United States.

During his tenure as head of the Legal and Regulatory Affairs Office from 2016 to 2019, he actively addressed legal issues related to personnel and organizational management as well as the construction of the Bank of Korea's integrated annex building. During the COVID-19 pandemic, he was recognized for practically overseeing the emergency management system and leading the organization stably.

He was promoted to Deputy Governor of the Bank of Korea in November 2020 while serving as head of the Planning and Cooperation Bureau, and his term is set to expire in about six months this November. As Deputy Governor, he has overseen the Planning and Cooperation Bureau, IT Strategy Bureau, Human Resources Management Bureau, Talent Development Institute, and regional headquarters. He played a significant role in the Bank of Korea’s temporary relocation to the Samsung Main Building and its return to the Namdaemun-ro headquarters in April this year after six years of remodeling.

The auditor position at the Korea Federation of Banks is known to offer an annual salary of up to 300 million KRW, including performance bonuses, with a guaranteed three-year term. It is one of the preferred positions for bureaucrats and Bank of Korea alumni, with some moving from auditor roles at the Federation to auditor roles at commercial banks. The current auditor, Seo Bong-guk, who has about a month left in his term, is also a Bank of Korea alumnus and has served as head of foreign asset management.

A representative of the Korea Federation of Banks stated, "Once a candidate is decided, it is highly likely that the general meeting (an extraordinary general meeting) will be scheduled to approve the appointment in writing," adding, "No decision has been made yet regarding the appointment of the auditor."

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