Financial Services Commission Appoints Professor Jang Beom-sik of Soongsil University as Chairman of the 3rd Ombudsman Committee

[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission announced on the 29th that Professor Jang Beom-sik of Soongsil University’s Department of Business Administration (photo) has been appointed as the chairman of the 3rd Ombudsman Committee.

The 3rd Ombudsman Committee consists of five members, including Professor Jang.

In the banking sector, Seo Jeong-ho, head of the Digital Finance Research Center at the Korea Institute of Finance, was appointed, and in the financial investment sector, Choi Seung-jae, president of the Korea Bar Association’s Legal Research Institute, was appointed.

Professor Jeong Se-chang of Hongik University’s Department of Finance and Insurance was appointed as the insurance sector member, and Jeong Un-young, chairman of the Finance and Happiness Network, was appointed as the consumer and small business sector member.

The Ombudsman system was introduced in February 2016 to monitor financial authorities’ regulations from a third-party perspective and to strengthen the protection of financial consumers.

The 3rd Ombudsman Committee is expected to serve as a compass for reviewing the financial consumer protection system of the financial authorities and improving financial regulations from the consumer’s perspective.

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