Kwon Dae-young, the vice chairman of the Financial Services Commission, has been appointed as the new First Deputy Minister of Finance. Kwon is recognized as an 'economic expert' with extensive policy experience and practical financial skills.
Born in 1968, Kwon graduated from Korea University with a degree in business administration and entered public service through the 38th National Administrative Examination. He has held various positions within the Ministry of Finance, including roles in foreign currency funds, securities systems, and financial systems. Since the establishment of the Financial Services Commission, he has served in key positions such as director of asset management and director of banking.
Kwon has also worked in significant roles within the Financial Services Commission, including as the head of financial policy and director of financial policy. He has led various policy initiatives as a standing commissioner and secretary general.
He is credited with contributing to the framework of the current government's real estate policies. President Yoon Suk-yeol publicly praised the household debt measures announced on June 27 of last year.
Recently, Kwon has actively participated in project financing support for expanding real estate supply.
He has also been recognized for his efforts in stabilizing the financial market during crises, such as the Legoland incident at the end of 2022 and the bank run at Saemaul Geumgo in 2023.
The presidential office stated, 'As an economic and financial expert, he is the right person to boldly utilize various policy tools to manage economic issues such as growth rates, inflation, and employment, while continuously discovering future growth momentum.'
* This article has been translated by AI.
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