Newly appointed Financial Supervisory Service (FSS) Governor Lee Chan-jin said he is “not a radical person” and will not take any immediate actions that could unsettle markets.

Speaking after his inauguration Wednesday, Lee emphasized his preference for consensus-based decision-making, seeking to ease concerns over potential overreach given his close ties to President Lee Jae-myung and his legal background.

In his speech, he reaffirmed the administration’s policy goals, including expanding venture capital supply, introducing a “co-prosperity index” to measure financial institutions’ support for small businesses, and enforcing a zero-tolerance policy on stock manipulation.

Lee also vowed to swiftly resolve remnant bad debts in property project financing carried over from the previous administration, strengthen household debt management and overhaul related systems to prevent recurrence.

He pledged stronger consumer protection by reforming the FSS’s Consumer Protection Bureau, enhancing monitoring of financial firms and using supervisory and inspection powers when needed.

Lee said he will support innovation in the financial sector through AI adoption and digital asset ecosystem development while ensuring fair market order and safeguarding the rights of both major and minority shareholders.