Kim Kyung-ho, a former executive director of the Asian Development Bank, has been recommended as CEO of the Korea Housing Finance Corp.

Last Friday, the Financial Services Commission recommended Kim and Cheong Wa Dae is reviewing whether to appoint him to the post.

The 58-year-old candidate, a senior public official, had held key posts including spokesman for the Finance Ministry before working at the Manila-based ADB between 2007 and 2010.

Current KHFC CEO Lim Joo-jae is about to complete his three-year term.

KHFC is a public financial institution, established in 2004 to provide long-term housing finance to citizens.

The organization has been undertaking the issuance of housing finance credit guarantees and the securitization of mortgages by consolidating the Housing Finance Credit Guarantee Fund.

KHFC has launched the “Jutaek Yeongeum,” or a reverse mortgage scheme, which allows senior citizens to put up their homes as security and receive lifelong pensions.

By Kim Yon-se (kys@heraldcorp.com)