President Moon Jae-in has formally appointed his pick for the next head of the Financial Services Commission(FSC), three days after parliament greenlit the nomination. 

According to the presidential office, Moon approved a motion to appoint Koh Seung-beom as the new chair of the country's financial watchdog. Koh’s term will begin on Tuesday. 

The former member of the Bank of Korea’s Monetary Policy Board was nominated to the position in a reshuffle of several minister- and vice-minister level posts early this month. 

The National Assembly National Policy Committee wrapped its confirmation hearing on Koh last Friday and immediately adopted a report, which assessed the nominee is fit for the job.

Koh succeeds Eun Sung-soo, who finished his two-year term on Monday.