Anchor: The head of the nation's financial watchdog resigned just two weeks after taking office. Financial Supervisory Service chief Kim Ki-sik was determined to have breached a law on political contributions.
Kim In-kyung has the details.
Report: Kim Ki-sik, the head of the Financial Supervisory Service(FSS) resigned after the election watchdog concluded that his past behavior and donations violated the law.
Following a four-hour meeting on Monday, the National Election Commission(NEC) determined that a 50 million won donation Kim made using political contributions in 2016 exceeded an acceptable level.
The donation was made to an association of Democratic Party lawmakers called "A Better Future," which he was a part of, as he was nearing the end of his four-year-term, apparently to use up his remaining political funds.
President Moon Jae-in accepted his resignation the next day.
Kim had faced strong pressure from the opposition to step down after it was revealed shortly after his appointment that as a lawmaker, he went on overseas business trips sponsored by financial organizations subject to oversight by a National Assembly committee that he was a member of.
In relation to the overseas trips, the NEC said that although such sponsored trips may have been "customary" among lawmakers at the time, they could be in violation of the Political Funds Act, depending on the details of each occasion.
President Moon said last week that he would dismiss Kim if there was an objective finding that any one of his activities conducted while he was a lawmaker was illegal. The top office had also asked the election watchdog to judge the legality of Kim's past deeds.
Kim apologized for failing to meet the expectations of the people in a Facebook post on Tuesday. However, he said that he cannot accept the NEC's ruling, adding that he had only donated funds for policy research. He also noted that the NEC hadn't raised issues over the past two years after he submitted details of his spending.
Kim stepped down just two weeks after taking office on April second, becoming the shortest-serving governor in the 19-year history of the FSS.
Kim In-kyung, KBS World Radio News.