Financial Supervisory Service Moves Toward Closing Washington Office in the U.S.... Overseas Office Restructuring

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] The Financial Supervisory Service (FSS) has begun the process of closing its office located in Washington, D.C., USA.

According to financial authorities on the 10th, Hong Jae-pil, head of the FSS Washington office, returned to Korea last week, and one remaining staff member is currently handling the dismantling procedures of the Washington office.

The role of the Washington office will be taken over by the New York office. Accordingly, the FSS overseas offices will total six locations: New York, London, Frankfurt, Tokyo, Hanoi, and Beijing.

The closure of the Washington office follows the demand from the Ministry of Strategy and Finance’s Public Institution Management Committee at the end of January, which decided not to designate the FSS as a public institution and instead required the restructuring of its overseas offices.

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