KRX Derivatives Chief Pick From FSS Faces Union and Civic Backlash

The Korea Exchange is facing strong opposition after a former Financial Supervisory Service official was reportedly nominated to head its derivatives market division. The union criticized the choice, saying the nominee had not experienced even the first letter of derivatives work, in effect arguing that the person lacks direct expertise in the field. Civic groups are also joining the response, with plans to seek a public-interest audit and file an administrative lawsuit. The Busan Citizens’ Coalition for Economic Justice said former FSS officials have been appointed for nine years and argued that mechanisms to manage conflicts of interest have not been properly established. The dispute is expected to raise questions over KRX personnel practices, expertise in derivatives market operations, and conflict-of-interest controls for former regulators. Source: mk.co.kr