Who will be next financial regulator chief?

The Financial Supervisory Service building headquarters in Yeouido, Seoul. Yonhap

By Yoon Ja-young

Kim Yong-beom / Yonhap

Following a report that President-elect Yoon Suk-yeol has almost made a decision on the nominees to lead the Ministry of Economy and Finance and the Financial Services Commission (FSC), all eyes are now on who will be chosen as the head of the Financial Supervisory Service (FSS).

According to aides from the transition team, Rep. Choo Kyung-ho of the main opposition People Power Party (PPP) is almost certain to be named as the deputy prime minister for the economy,?while former Vice Minister of Economy and Finance Choi Sang-mok is expected to become the chairman of the FSC.

The FSS Governor is a vice minister-level position and is in charge of overseeing financial services firms across the entire financial sector.

Among those mentioned as candidates to lead the FSS is Kim Yong-beom, a former vice minister of economy and finance. He served at both the finance ministry and the FSC.

Lee Chan-woo / Korea Times file

Also among the candidates is Lee Chan-woo, a senior deputy governor at the FSS. He also served as a vice minister at the finance ministry.

However, some say there remains a possibility of current FSS Governor Jeong Eun-bo remaining in his position even after Yoon's inauguration, after considering that it has been less than a year since he took office in August 2021.

There also is the possibility of Yoon picking an expert from the private sector, such as a professor.

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