Financial Authorities Provide Training for Employees of Financial Conglomerates Including Samsung and Hanwha

[Asia Economy Reporter Kwangho Lee] The Financial Services Commission and the Financial Supervisory Service announced on the 15th that they will conduct second-half training over two days starting from the 16th for executives and employees of financial companies belonging to financial complex corporate groups.

The financial complex corporate groups include six groups: Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, and DB. These groups operate two or more financial businesses and have total assets of 5 trillion won or more.

This training course is mainly composed of content related to capital adequacy management, reporting and disclosure, internal control, and risk management practices.

On the first day, topics include key points of the financial complex corporate group supervision system, capital adequacy standards, risk management status evaluation and reporting and disclosure practices, internal control practices, and customer information management practices.

On the second day, topics include financial holding company reporting and disclosure cases, risk management systems and methodologies, stress testing and risk management collaboration, and overseas cases of financial group supervision.

An official from the financial authorities said, "This will provide an opportunity to finally check the preparation status of affiliated financial companies in anticipation of the Financial Complex Corporate Group Act, which will be applied from January next year, and it is expected to induce smooth compliance with regulations by financial companies."

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