First outside expert hire in 17 years marks personnel shake-up
Three decades of financial policy research spanning economics and law
Appointment follows expansion of probe and analysis units
The Korea Fair Trade Commission has appointed Kim Ja-bong, a senior research fellow at the Korea Financial Institute, as its new standing commissioner. The Fair Trade Commission filled the newly created seat — added to strengthen its case deliberation capacity — through an outside expert hire rather than an internal promotion.
The Fair Trade Commission said it officially appointed Kim to the standing commissioner post Friday.
Kim graduated from Seoul National University with a degree in economics in 1991 and earned a master's degree in economics from the same institution in 1998. He went on to receive a doctorate in economics from the State University of New York, a master of laws (LL.M.) from UCLA, and a doctorate in law from Korea University.
Kim joined the Korea Financial Institute in 1996 and served as associate research fellow and research fellow before becoming a senior research fellow in 2017. Over more than 30 years of financial policy research, he has built expertise across a wide range of fields, including fair market economics, shared growth, big tech and fintech, the separation of banking and commerce, and productive and inclusive finance.
Kim has also contributed to government policymaking, serving on the Fair Trade Commission's policy advisory panel, the Financial Services Commission's inclusive finance strategy task force, and the Ministry of Planning and Budget's fiscal policy advisory council. He previously served as chairman of the Financial Supervisory Service's supervisory advisory committee, president of the Korean Banking Law Association, and chairman of the Private Finance Committee.
The Fair Trade Commission said it expects Kim's expertise spanning economics and law, combined with his extensive policy research experience, to raise the professional quality of the commission's rulings going forward.
The appointment also draws attention as the first outside expert hire to accompany an expansion of the commission's membership in about 30 years.
Under an amendment to the Fair Trade Act passed by the National Assembly last April, the total number of commissioners increased from nine to 11. Standing commissioners, including the chairperson and vice chairperson, rose from five to six, while non-standing commissioners increased from four to five.
The appointment of an outside expert to a standing commissioner seat — positions that have typically been filled by promoting senior internal officials — is the first such hire since former standing commissioner Jang Yong-seok in 2009, a gap of 17 years.
The Fair Trade Commission launched its Special Investigation Planning Division and Economic Analysis Bureau on Thursday, strengthening its probe and analysis functions. With the addition of the new standing commissioner, the commission said it has now laid the personnel groundwork to bolster its deliberation capacity following the earlier expansion of its investigative units.
y2k@heraldcorp.com
