President Moon Jae-in has accepted the resignation tendered by Financial Supervisory Service Governor Choe Heung-sik.
In a text message to reporters on Wednesday, a presidential official said that Moon accepted Choe’s resignation the previous night.
Choe tendered his resignation on Monday after suspicions surfaced that he gave undue favors during Hana Bank’s recruitment of new employees in 2013.
Choe allegedly gave preferential treatment to the son of his friend who applied for a job at Hana Bank when Choe was president of Hana Financial Group.
Choe had only been in office for some six months, the shortest term for head of the supervisory agency.