Seoul: Lee Bok-hyun, the governor of the Financial Supervisory Service (FSS), concluded his three-year tenure as the head of the financial watchdog on Thursday. He is the fourth FSS chief to complete a full term in office.

According to Yonhap News Agency, Lee Bok-hyun took on the role in 2022 at the age of 50, becoming the youngest chief in the history of the FSS. His tenure was marked by significant efforts to reform the capital market and address unfair practices within financial markets. One of the notable measures implemented during his term was the temporary ban on stock short selling, aimed at curbing illegal naked short selling, which was lifted in March this year.

Lee also focused on rectifying illegal practices within the banking sector, advocating for stricter internal controls and compliance measures. His leadership has been characterized by a firm stance on enhancing regulatory frameworks to ensure market integrity.

With Lee's term now concluded, President Lee Jae-myung is anticipated to announce the appointment of a new FSS chief in the near future.