Chairman Koh Seungbeom took office as Chairman of the Financial Services Commission (FSC) on August 31, 2021. Prior to his appointment at the FSC, Chairman Koh served as a member of the Monetary Policy Board of the Bank of Korea for five years between 2016 and 2021. He was the first member of the Monetary Policy Board to be reappointed to the post for a second four-year term.
Chairman Koh has been in public service for more than three decades as he began his career at the Ministry of Finance and Economy in 1986. He has built extensive expertise and experience in the field of macroeconomics and financial policies. In 2001, Chairman Koh joined the Financial Supervisory Commission, the precursor to the current Financial Services Commission, and served in key positions as he successfully managed crisis situations.
In particular, Chairman Koh has been credited for taking charge of the restructuring of credit card companies during the so-called credit card crisis of 2003. While serving as Director General of the Banking and Insurance Bureau from 2010 to 2011, Chairman Koh supervised the resolution of bad debts when savings banks’ bad project financing (PF) loans triggered a crisis. Chairman Koh also led policy efforts to manage household debt while serving as Director General of the Financial Policy Bureau in 2012. He then went on to assume the role of Secretary General in 2013 and Standing Commissioner in 2015.
Chairman Koh also has experiences in multilateral development banks. He worked as an economist at the Asian Development Bank (ADB) between September 1998 and October 2001 and at the International Bank for Reconstruction and Development (IBRD) from April 2008 to April 2010.
Chairman Koh has a Ph.D. in Economics from American University. He graduated from Seoul National University with a B.A. in Economics and an M.A. in Public Administration.