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Kim was appointed chairman of the Financial Services Commission in December 2010, a time when the Korean regulator had to clamp down on distressed savings banks who were failing to meet regulatory standards. The FSC is tightening the rules for savings banks and eight local banks have been suspended due to irregular lending practices and even major shareholders are set to be penalised. Kim joined the FSC in 1999 has held various positions including being directors for the laws and regulation division and the supervisory policy bureau.
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