[1mm Financial Talk] "You Can Wear T-Shirts and Jeans to Work at the Financial Supervisory Service"

Financial Supervisory Service Organizational Culture Innovation TF, Fully Autonomous Dress Code
"Collared Shirts, T-Shirts, Jeans, Sneakers, Loafers OK"
Director Lee Bok-hyun Also Wore Slacks and Shirt at Staff Greeting Ceremony

Lee Bok-hyun, Governor of the Financial Supervisory Service, is greeting at the Big Tech and Fintech Industry Meeting held at Prot One in Mapo-gu, Seoul on the 30th of last month. Photo by Moon Honam munonam@

[Asia Economy Reporter Song Seung-seop] The Financial Supervisory Service (FSS) has introduced a full-time casual dress code. This move aims to create a flexible and free atmosphere and establish an efficient work environment. The culture of casual dressing, which had been discussed mainly among younger employees, seems to be taking root even in the conservative financial sector.

According to the FSS on the 8th, the Internal Planning and Coordination Bureau's Organizational Culture Innovation Task Force (TF) announced through a notice that "free and comfortable casual dress is encouraged regardless of the working day throughout the year." An FSS official explained, "There was never a dress code that strictly prohibited certain types of clothing," adding, "This was implemented to promote horizontal communication, foster a flexible organizational culture, and improve work performance."

The examples of dress code have also changed. The previous dress guidelines only stated that "wearing a necktie is generally not required." The revised guidelines specify that polo shirts, T-shirts, jeans, sneakers, and loafers are acceptable attire at the FSS. Following the implementation of the new policy, FSS employees were seen coming to work wearing T-shirts and jeans from the very next day.

Considering the conservative culture of the financial sector, the FSS's complete casual dress code is regarded as a groundbreaking change. Financial institutions tend to be more conservative than private banks, with some still adhering strictly to formal suits. In the past, the FSS was strict about dress codes to the extent that employees could be reprimanded by their department heads for coming to work without a tie or wearing shirts with colors or patterns. Until recently, some employees would change from sneakers to dress shoes before reporting to executives.

The FSS's dress culture noticeably became more relaxed starting in February 2020. At that time, the MZ generation communication group within the FSS, called the "Young Voice Club," proposed a "Casual Day." The idea was to allow employees to wear whatever they wanted every Friday without being restricted to formal suits or business casual attire. The FSS accepted this proposal to foster a creative work environment, break away from an authoritarian atmosphere, and establish a culture of free communication and discussion.

Concerns that the atmosphere might become rigid again after the appointment of FSS Governor Lee Bok-hyun, who has a background as an inspector, have also been dispelled. Governor Lee appeared wearing cotton pants and a shirt at a meet-and-greet with employees on a Friday after his inauguration. He also attracted attention by wearing a polo shirt and cotton pants at a meeting with the big tech and fintech industries on the 30th of last month.

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