Half of Employees Move... Korea Deposit Insurance Corporation Undertakes Large-Scale Organizational Restructuring

[Asia Economy Reporter Song Seung-seop] The Korea Deposit Insurance Corporation (KDIC) has significantly reorganized its structure, focusing on enhancing its risk management system and improving its effectiveness. The plan also includes moving about half of all employees to revitalize the organizational atmosphere.

According to KDIC on the 11th, the current Risk Management Department, Bank Management Department, Insurance Management Office, and Financial Investment Management Office have been renamed as Financial Industry Analysis Department 1, Financial Industry Analysis Department 2, and Differential Insurance Operations Department. This change aims to strengthen the analytical functions related to the financial industry and financial institutions and to organically link them with the differential evaluation system to advance the risk management framework. The organizations operating the differential insurance premium system, which were previously dispersed by sector, have also been integrated. KDIC plans to focus its capabilities on developing indicators that precisely measure the financial condition of financial institutions and enhance predictive power regarding the possibility of insolvency.

The Structural Improvement General Department has been renamed the Financial System Improvement Department. Within the Deposit Insurance Research Center, a dedicated digital finance team has been newly established. The goal is to build an effective deposit insurance system in response to the rapidly expanding capital markets and digital finance.

Within the Financial Consumer Protection Office, a Financial Product Analysis Team has been formed. This team is responsible for the smooth operation of the mistaken remittance refund system currently implemented by KDIC and analyzes the impact of increasingly complex financial products on the soundness of financial institutions.

Additionally, the Investigation Bureau has significantly expanded its personnel investigating insolvent debt companies, and the recovery organization, which grew larger during financial institution restructuring, has been consolidated. The Human Resources Support Department and Innovation Management Office have been placed directly under the Vice President.

In line with the large-scale organizational restructuring, 47% of all employees have been reassigned. The expansion of female managers will continue, with two out of three newly appointed team leaders being women.

Meanwhile, KDIC plans to expand its collaborative system by implementing new personnel exchanges with institutions such as the Bank of Korea and the Financial Supervisory Service to share know-how in financial industry analysis.

This content was produced with the assistance of AI translation services.