The state policy financing agency chief on Tuesday was named the new head of the financial watchdog, who apparently resigned after a series of recent financial scandals, officials said.

The Financial Services Commission (FSC), the top financial regulatory body, picked Zhin Woong-seop, president of the Korea Finance Corp., as the new governor of the Financial Supervisory Service (FSS).

FSS Gov. Choi Soo-hyun, who took office in March last year for a three-year term, has offered his resignation to the FSC, citing personal reasons.

"I thought this was the right time to step down as many issues have been wrapped up well," Choi was quoted as saying in a meeting with his officials.

Choi has been under fire for mishandling the infighting in KB Financial Group Co., the country's second-largest banking giant, and a massive data leak from major credit card firms that rocked the nation earlier this year. (Yonhap)