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Choi Jongku, Chairman

  • Mr. Choi Jongku took office as Chairman of the Financial Services Commission(FSC) in July, 2017.

    Commencing his public service career in 1982, Mr. Choi accumulated decades of extensive experiences by holding various positions including Deputy Minister for International Affairs at the Ministry of Strategy and Finance (MOSF) and First Senior Deputy Governor of the Financial Supervisory Service (FSS). Also, Mr. Choi served as President & CEO of the Seoul Guarantee Insurance (SGI) from January 2016 to February 2017. Prior to his appointment as FSC Chairman, he was Chairman & President of the Export-Import Bank of Korea(KEXIM) from March 2017 to July 2017.

    During and aftermath of the 2008 financial crisis, as Director General for International Finance Bureau, Mr. Choi contributed to stabilizing financial and FX markets in Korea. While he was Deputy Minister for International Affairs at the MOSF from 2011 through 2012 when the global economy was facing the eurozone fiscal crisis, he committed himself to keeping the turbulence at bay to maintain the Korean market stable. He also played a role in effectively coordinating international cooperation amid the crisis, working closely with the partner countries notably the Group of Twenty (G20) and the ASEAN Plus Three (ASEAN+3), a cooperative platform designed for ensuring financial stability and economic integration in the region.

    Born in 1957, Mr. Choi obtained a bachelor's degree in International Trade from Korea University in 1980 and a master's degree in Public Administration and Policy from University of Wisconsin-Madison in 1992.

Chairman's Message

  • Welcome! Thank you for visiting our website.
    Korea’s financial industry has grown with the development of our economy. In the process, the Financial Services Commission fulfills its mission to maintain financial market stability, respect the role of financial markets, ensure fair market order, and thereby contribute to the economic growth.

    The Moon Jae-in administration embarked on the new journey for a better country with the pledge of “equal opportunity, fair process, and just outcome.” I believe this is the right direction the new government’s financial policy must pursue. “Equality” in finance will be translated into better financial services and greater financial inclusion that benefit as many consumers as possible. “Fairness” in finance starts with respecting market principles and establishing fair order. A “just outcome” in finance is achieved only when all players in financial markets do their best in their role to ensure trust in the financial sector.

    The FSC set out three principles for financial policy under the Moon administration.
    First, finance for “productive” investment will be pursued。 The FSC will channel funds to innovative businesses to boost growth potential and create jobs. The financial sector will also become a job creator with new and innovative financial services.

    Second, trust in finance will be strengthened. The FSC will ensure greater autonomy for financial institutions and stronger protection for financial consumers. Financial stability is a prerequisite for sustainable growth of the financial sector. To this end, the FSC will remain vigilant at all times to detect and respond timely to risk factors.

    Last but not least, financial inclusion will be expanded. Finance shall take greater social responsibility corresponding to its growth. The FSC will make sure benefits of our financial policy trickle down to financially-marginalized households.

    The FSC will always listen carefully to the voices of financial institutions and consumers to reflect them into our financial policy.

    Choi Jongku
    Chairman, Financial Services Commission