Attorney Kim Sung-sik, a classmate (18th class) of President Lee Jae-myung at the Judicial Research and Training Institute, was included among the candidates for the next president of the Korea Deposit Insurance Corporation (KDIC). Including Attorney Kim, there are three candidates for KDIC president.
According to the financial sector on the 8th, KDIC conducted interviews for president candidates on the 5th. Attorney Kim is a training institute classmate of President Lee, and served as the lawyer in the trial related to abuse of authority allegations that proceeded when Lee was serving as Gyeonggi governor.
Kim Young-gil, former standing director of KDIC, who reportedly sat for the interview as well, previously served as the chief expert member of the Policy Committee of the Democratic Party of Korea. Kim Kwang-nam, former KDIC executive vice president and an internal candidate, served as co-chair of the Progressive Economy Committee, a policy advisory body under the Democracy Square Committee, a direct organ of candidate Lee Jae-myung during the last presidential election.
The Korea Deposit Insurance Corporation (KDIC) is a public institution that protects depositors and maintains the stability of the financial system by guaranteeing the payment of deposits when financial companies are unable to pay deposits due to bankruptcy and other reasons. The term of the KDIC president is three years, with a possible one-year extension based on performance.
The term of current President Yoo Jae-hoon expired on the 10th of last month, three years after his appointment in Nov. 2022, and the open call and selection process for a successor is underway. Former President Yoo Jae-hoon's annual salary was about 323.28 million won last year (basic salary 230.18 million won, bonus 93.10 million won).