Lee Dong-geol, a visiting professor at the department of business administration in Dongguk University, and Eun Sung-soo, CEO of the Korea Investment Corp. (KIC) Thursday have been recommended to head state lenders Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank), respectively.

The new administration this week has begun replacing top positions at state financial regulator and entities.

Seoul Philharmonic Orchestra CEO Choe Heung-sik was nominated as the governor of the Financial Supervisory Service earlier.

The chief positions of two state lenders are each recommended by the chairman of the Financial Services Commission and the finance minister and must be approved by the president.

Lee served as the head of the Korea Institute of Finance, a deputy at the FSC, and an economist at state think tank Korea Development Institute

“Lee is a candidate who can use expertise and experience to spearhead KDB’s corporate restructuring and incubation of growth industries and companies,” the FSC said in a statement.

Eun is well-versed in international finance, having served as a standing director at the International Bank for Reconstruction and Development (IBRD) and an assistant minister in charge of international economy at the ministry of strategy and finance.

“With his connections in international and domestic finance and government, he will be able to accelerate restructuring in shipping and shipbuilding sector, vitalize export finance, and lead internal reforms,” the ministry said.

The chief executive seat at Eximbank has been vacant after its former head Choi Jong-ku was promoted to the FSC chairman two months ago.

By Chung Seok-woo

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