The Financial Services Commission recommended Chung-Ang University professor Hong Gi-take as chairman of the KDB Financial Group, FSC officials said Thursday.

Under law, the state-controlled KDB Financial Group chairperson is appointed by the president at the request of the FSC, the nation’s top financial regulator.

If Cheong Wa Dae agrees on Hong’s selection, he will succeed Kang Man-soo who tendered his resignation last month.

FSC officials said they recommended professor Hong as they judged that he is the right person to support the government’s banking policy.

Born in Seoul in 1952, Hong worked as an economist at the Bank of Korea, an outside director for Samsung Card and NongHyup Financial group, and economics professor at Chung-Ang University after graduating from Sogang University in 1975.

He also was a member of President Park Geun-hye’s economic think tank before her inauguration. He also served as a member of the economic team under the transition committee.

Financial observers said the replacement will likely affect the future course of top leaders at the nation’s major financial groups.

By Kim Yon-se (kys@heraldcorp.com)