Lee Dong-gull, chairman of Korea Development Bank (KDB), will likely win a second term amid heightened role of the primary state lender to spearhead multiple bailouts amidst coronavirus crisis.

The presidential office on Wednesday endorses the second term for Lee so that his office is not stopped after his tenure ends on Thursday.

The chairman of KDB is appointed by the president upon recommendation from the head of the Financial Services Commission (FSC). Lee would make the fourth leader of the state lender to serve for two terms.

Lee is in the middle of overseeing the fate of Doosan Heavy Industries and Asiana Airlines under liquidity woes. “There is too much of a risk of seating a new chair. There are also few candidates to replace Lee,” one banking industry source said.

By Choi Seung-jin, Chung Joo-won and Choi Mira

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