Yoon Soo Lee, former standing commissioner at the FSC, named new chief of KSD

Source

Korea Economic Daily

Summary

Korea Securities Depository said it plans to approve an agenda item at an extraordinary shareholders’ meeting on the 6th to appoint Yoon Soo Lee, former standing commissioner of the Securities and Futures Commission, as its new president.
It said Lee is a career financial official in capital-market policy and supervision, having served as director-general of the FSC’s Capital Markets Bureau, head of the Korea Financial Intelligence Unit, and standing commissioner at the Securities and Futures Commission.
It said Lee is credited, during his tenure as an SFC standing commissioner, with leading the launch of a 'joint response task force to eradicate stock-price manipulation' and introducing a 'one-strike out' system for unfair trading.

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Appointment to be decided at an extraordinary shareholders’ meeting on the 6th

Yoon Soo Lee (pictured), former standing commissioner of the Securities and Futures Commission under the Financial Services Commission (FSC), has been tapped as the next president of Korea Securities Depository (KSD).

According to the financial investment industry on the 3rd, KSD will hold an extraordinary general meeting of shareholders on the 6th and is expected to approve an agenda item appointing Lee as the next president. The appointment will be finalized after an approval process by the FSC.

Previously, KSD’s selection of a successor was delayed for about a month after the term of former president Soon Ho Lee ended. Although it formed an executive nomination committee in December last year, it failed to finalize a candidate. In February, it reopened the recruitment and conducted interviews, entering the full appointment process.

Born in 1969, Lee graduated from Gwangseong High School in Incheon and Seoul National University’s Department of International Economics, and earned an MBA from the University of Florida in the United States. After entering public service through the 39th Higher Civil Service Examination, he served as director of the Insurance Division, the SME Finance Division and the Banking Division at the FSC. He also worked as an administrator at the Office of the Senior Secretary to the President for Economic Affairs, headed the FSC’s Capital Market Investigation Task Force, served as director-general of the Capital Markets Bureau, led the Korea Financial Intelligence Unit (KoFIU), and served as an SFC commissioner.

Lee is regarded as a career financial bureaucrat with extensive experience in capital-market policy and supervision. In particular, during his tenure as a standing commissioner at the SFC, he is credited with leading the launch of a joint response task force to eradicate stock-price manipulation and introducing a “one-strike out” regime for unfair trading.

Jung Dong Roh, Hankyung.com reporter dong2@hankyung.com