Financial Authorities Conduct Online Training on Internal Control and Risk Management for Financial Groups

[Asia Economy Reporter Kim Hyo-jin] The Financial Services Commission and the Financial Supervisory Service announced that they have launched an online training course on internal control and risk management for approximately 70 employees of six financial groups currently piloting financial group supervision from the 26th to the 27th.

The groups involved are Kyobo, DB, Mirae Asset, Samsung, Hanwha, and Hyundai Motor.

The training course covers topics related to the financial group supervision system, as well as practical aspects of internal control and risk management within financial groups. It is conducted using the Financial Services Commission’s project budget and is available free of charge.

The financial authorities conducted educational sessions twice last year, in May and November, to enhance the understanding of practitioners in these financial groups. They explained that the training is being held again this year due to the financial groups’ continued interest.

The financial authorities expect that this training course will significantly reduce the adaptation burden on supervised financial groups when the financial group supervision system is legislated in the future, thereby laying the foundation for the system to be quickly established.

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