Former Securities and Futures Commission standing Commissioner Lee Yun-su has been tapped as the new president of Korea Securities Depository (KSD).
According to the financial investment industry on the 3rd, the depository plans to hold an extraordinary shareholders meeting on the 6th to approve the agenda to appoint former standing Commissioner Lee as the next president. The final appointment will be confirmed after the Financial Services Commission approval process.
A Korea Securities Depository (KSD) official said, "It is correct that the agenda related to (former standing Commissioner Lee Yun-su) has been submitted to the extraordinary shareholders meeting," and noted, "Subsequent procedures have not yet been finalized."
Previously, the depository saw about a one-month delay in selecting a successor after the former president's term ended. Although it formed an executive recommendation committee in Dec. last year, the process was delayed due to factors such as a reorganization of the Financial Services Commission (FSC), and from late Feb. this year it began the full-fledged appointment process by accepting applications and conducting interviews.
A total of six people, including internal candidates, applied for this open recruitment, and after screening, former Commissioner Lee was selected as the final candidate.
Born in 1969, former Commissioner Lee graduated from Incheon Gwangseong High School and Seoul National University with a degree in international economics, and earned an MBA from the University of Florida in the United States. Entering public service by passing the 39th higher civil service exam, Lee served as head of insurance policy, head of small and medium finance policy, and head of banking policy at the Financial Services Commission. Lee also worked as an administrative officer at the Presidential Office's Senior Secretary for Economic Affairs, head of the capital markets investigation team at the Financial Services Commission, director general of the Capital Markets Bureau, head of the Korea Financial Intelligence Unit (FIU), and Commissioner of the Securities and Futures Commission (SFC).
Former Commissioner Lee is regarded as a traditional finance bureaucrat who has built long experience in capital market policy and supervision, and as a figure who combines expertise with policy understanding. In particular, while serving as standing Commissioner of the SFC, Lee led the launch of the "joint response team to eradicate stock price manipulation" and the introduction of the "one-strike-out" system for unfair trading.