Lee Bok-hyun "Issue of Interest Cartel... Must Avoid Misunderstandings of Private Contact with Former Financial Supervisory Service Officials"

Lee Bok-hyun, Governor of the Financial Supervisory Service, is attending the meeting between the Financial Services Commission Chairman and the Heads of Financial Associations held at the Press Center in Jung-gu, Seoul on the 22nd, delivering opening remarks. Photo by Dongju Yoon doso7@

Lee Bok-hyun, Governor of the Financial Supervisory Service (FSS), emphasized the dismantling of vested interest cartels in the financial sector.

On the 4th, Governor Lee presided over the '2023 Anti-Corruption and Integrity Workshop' at the FSS main auditorium, stating, "Since vested interest cartels are problematic across society, we must further refine our service attitude and strictly carry out supervisory and inspection duties according to principles." He added, "There should be no room for misunderstanding from the public’s perspective regarding private contacts with financial company executives who are former FSS officials or employment at financial companies."

Governor Lee also noted, "Organizational attention to morality has been relatively secondary due to busy work schedules," adding, "The moment our words or actions deviate even slightly from the public’s expectations, our efforts toward becoming a trusted financial supervisory organization could be instantly nullified. Therefore, attention to anti-corruption and integrity activities is necessary."

At the workshop, Park Hee-jung, Team Leader of the Review and Protection Bureau at the Anti-Corruption and Civil Rights Commission, explained key points of the code of conduct, including clauses prohibiting abuse of power, and provided case-centered explanations on the Improper Solicitation and Graft Act and the Conflict of Interest Prevention Act to FSS employees. The Director of the Inspection Office at the FSS announced this year’s anti-corruption plan, and Governor Lee along with FSS staff reaffirmed their commitment to company-wide participation and practice through the 'Anti-Corruption and Integrity Pledge.'

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