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01Deposit Insurance Committee

The Deposit Insurance Committee is the highest decision-making body of the KDIC. It is composed of seven individuals including the Chairman & President of the KDIC, who serves as committee Chairman. Other ex-officio members are: the Vice Chairman of the Financial Services Commission (FSC), the Vice Minister of the Ministry of Strategy and Finance (MOSF), the Senior Deputy Governor of the Bank of Korea (BOK). The three remaining committee members are appointees commissioned by the FSC. Of the three, one committee member is commissioned directly by the FSC while the other two are recommended by the Minister of MOSF and the Governor of the BOK, respectively. The appointed members¡¯ term of office is three years and can be renewed.

Current Members

The committee develops guidelines for the KDIC¡¯s activities and renders decisions on the following matters:

Matters that require a resolution
  • Amendments to the Articles of Incorporation
  • KDIC¡¯s budget and account settlement
  • Issuance of Deposit Insurance Fund bonds (DIF bonds) and DIF Bond Redemption Fund bonds
  • Discount or deferment of premium payments
  • Depositor reimbursement
  • Approval of provisional deposit payments
  • Financial assistance for the resolution of failed financial institutions
  • Financial assistance for insured financial institutions, etc.
  • Matters regarding the operation of the Deposit Insurance Committee
  • Requesting the FSS Governor to conduct an examination of an insured financial institution and send the results or participate in a joint examination with the KDIC
  • Requesting the FSC to take necessary action to deal with a failed financial institution such as a transfer of contracts or the initiation of bankruptcy proceedings
Matters that require
decision-making
  • Declaration of insolvency
  • Determination of insolvency risk
  • Between-account transactions
  • How to disclose the Committee meeting minutes
  • Matters related to the DIF bonds and DIF Bond Redemption Fund bonds
  • Payment of fees for outsourced work
  • Advance deposit payments
Matters that require deliberation
  • Fund management plans
  • Establishment or revision of rules and regulations regarding the KDIC¡¯s operation
Matters that require designation
  • Management of surplus funds
  • Designated purchase of securities
  • Designated deposit of funds at insured financial institutions

02Board of Directors

The Board of Directors is the KDIC¡¯s highest executive body and includes the Chairman & President, Executive Vice President and Executive Directors.
The Auditor may express his/her opinions at board meetings, but cannot participate in the Board¡¯s voting.

Current Members

The Board makes decisions regarding revising the Articles of Incorporation, developing and changing the budget and the budget implementation plan, account settlement, business goal development and change, and the development, revision and elimination of rules on organization, HR management, accounting and employee compensation.