President Lee Jae Myung appointed Shin Jin-chang, secretary-general of the Financial Services Commission (FSC), as the commission's vice chairman on Thursday.
Shin was born in 1970 in Geumsan, Chungcheongnam-do Province. He graduated from Woojin High School and the Department of Business Administration at Seoul National University, and earned a master’s degree in international finance from the University of Birmingham in the United Kingdom.
He entered public service through the 40th Administrative Civil Service Examination, serving as head of the Financial Policy Division, Director-General of the Financial Industry Bureau, and Director-General of the Financial Policy Bureau at the Financial Services Commission before being appointed Secretary-General last year.
Shin is known within the Financial Services Commission as a “small giant.” He is recognized for his work style of grasping the overall flow and setting policy directions rather than getting bogged down in detailed issues, even when dealing with complex matters. He is evaluated as having the strength to make necessary decisions and push policies forward, even in cases where interests conflict.
During his tenure as director-general of the Financial Industry Bureau, he focused on institutional improvements that consumers could feel. He pushed for legislation to simplify claims for out-of-pocket insurance, a matter where the interests of the insurance industry and the medical sector clashed, and was involved in building an online one-stop refinancing infrastructure to allow financial consumers to switch to loans with lower interest rates.
As director-general of the Financial Policy Bureau, he stood at the forefront of household debt management. In particular, he was in charge of designing and implementing the financial aspects of the the 27th loan regulations and the the 15th real estate measures last year. He handled key issues in a critical position that required monitoring both the real estate market and household lending trends while considering their impact on the financial markets.
In addition to his policy-driving capability, internal communication is also cited as a strength. He is evaluated as highly trusted by staff for his attitude of carefully listening to the opinions of secretaries who handle practical work and examining difficulties in the workflow. It is reported that he particularly made efforts to listen to internal voices during last year’s organizational restructuring so that members’ opinions could be reflected in the process.
△Born in 1970 △Bachelor’s degree, Department of Business Administration, Seoul National University △Master’s degree, International Finance, University of Birmingham, UK △40th Administrative Civil Service Examination △Financial Services Commission, Director-General for Structural Improvement Policy △Financial Services Commission, Director-General of the Financial Industry Bureau △Financial Services Commission, Director-General of the Financial Policy Bureau △Financial Services Commission, Secretary-General
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