[2021 National Audit] Go Seung-beom "Need to Maintain Current Financial Supervisory System"

Financial Services Commission Chairman Ko Seung-beom and Financial Supervisory Service Chairman Jung Eun-bo attended the National Assembly's inspection of the Financial Services Commission held by the National Assembly's Political Affairs Committee on the 21st, and are talking before the inspection begins. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Kim Jin-ho] Ko Seung-beom, Chairman of the Financial Services Commission, stated on the 21st that regarding the need to reform the financial supervision system, "It seems better to maintain the current system and create conditions where the Financial Services Commission and the Financial Supervisory Service can work organically together."

Chairman Ko made this remark during a National Assembly Political Affairs Committee audit when responding to a question from Song Jae-ho, a member of the Democratic Party of Korea, who asked, "Please state your position on the reform of the financial supervision system."

Chairman Ko said, "There does not seem to be a definitive answer regarding the financial supervision system," adding, "It appears more desirable to maintain the current situation rather than changing the system."

Jung Eun-bo, Governor of the Financial Supervisory Service, also responded, "Each country has various forms, so it is difficult to confidently say which is the correct answer," and added, "If there are issues of functional overlap or conflict, I believe it is necessary to respond through fine adjustments." He further stated, "Since a bill to reform the financial supervision system has been submitted to the National Assembly, we will strive to find a reasonable solution during the bill's discussion process."

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