"Conveying Financial Field Opinions from the Perspective of Financial Consumers"

Appointment of the 6th Financial Field Messengers by the Financial Services Commission

[Asia Economy Reporter Sim Nayoung] On the 16th, the Financial Services Commission appointed 105 members of the 6th Financial Field Messengers, composed of various classes and ages. Since its introduction in January 2016, the Field Messengers conveyed the voices of diverse financial consumers in the field to the financial authorities, leading to institutional improvements until activities were suspended in November 2020 due to COVID-19.

The 6th Field Messengers consist of a total of 105 members divided into 7 groups (4 groups by class: consumer organizations, consumers, corporations, financial company employees + 3 groups by age: youth and university students, middle-aged, elderly) and plan to be active for the next year. Through the activities of the 1st to 5th Field Messengers, 597 proposals were made, of which 575 were responded to. Among the 575 responses, 319 were addressed on-site, 256 were reviewed with 142 accepted and 114 rejected, and 22 were judged to require further review.

The main proposals were related to consumer protection (248 cases, 41.5%) and convenience enhancement (224 cases, 37.5%), with others including improvements in product explanation and guidance methods (77 cases, 12.9%).

The 6th Field Messengers will regularly convey various voices from the financial field, such as suggestions for consumer protection and inconveniences encountered when using financial products, to the financial authorities through group meetings and other channels. The proposals from the Field Messengers will be actively reflected in institutional improvements after discussions with related organizations such as financial companies and reviews by the financial authorities.

The Field Messengers will also play a feedback role from the perspective of financial consumers to ensure that various institutional improvements for consumer protection are well established in the financial field.

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