Financial Services Commission Chairperson Kim Byung-hwan on the 9th nominated Park Sang-jin, former compliance officer at Korea Development Bank, as the new chair of Korea Development Bank. It is the first time since KDB's establishment that an internal candidate has been tapped as chair.
Born in 1962, nominee Park graduated from Jeonju High School and from the law department at Chung-Ang University, the same as President Lee Jae-myung. Park is known to have formed ties with the president while studying together in the civil service exam study group at the time. Park joined KDB in 1990 and retired in 2019 after serving as compliance officer; after leaving, he served as vice president of Seoul Metropolitan Railway for four years through 2022.
The Financial Services Commission said, "The nominee served at KDB for about 30 years, holding key posts including the Kia Group·Daewoo Heavy Industries·Daewoo Motor task force (TF) team, head of the legal office, and compliance officer, and is a policy finance expert well versed in corporate restructuring and financial law."
It added, "We assess that, in line with financial policy aimed at real growth such as a grand shift to productive finance, the nominee is the right person to successfully lead policy finance tasks, including support for advanced strategic industries, which is KDB's immediate challenge."