Lee Bok-hyun: "Illegal Financial Companies Excluded from Government Projects"

"Research Institute Heads Point Out Rising Issues of Incomplete Sales in the Financial Sector"

Lee Bok-hyun, Governor of the Financial Supervisory Service, stated on the 28th that financial companies found to have committed illegal or irregular acts related to incomplete sales in the financial sector will be subject to bold measures, such as being barred from managing pension funds or participating in government projects, in order to gain public trust.

Lee Bok-hyun, Governor of the Financial Supervisory Service, is delivering opening remarks at the Research Institute Heads Meeting held on the 28th at the Kensington Hotel in Yeouido, Yeongdeungpo-gu, Seoul. Photo by Jo Yong-jun jun21@

After attending a meeting with heads of research institutions held at a hotel in Yeouido, Seoul, that morning, Governor Lee told reporters, “For the public to engage in long-term or indirect investments, there must be trust in financial companies,” emphasizing this point.

He added, “The heads of research institutions recently pointed out issues such as unfair trading, incomplete sales, and conflicts of interest in the financial sector, and said that appropriate regulations are necessary for financial companies that misuse customers’ interests.”

In response, he said, “We are internally considering bold measures at the Financial Supervisory Service, such as imposing sanctions to prevent the problematic financial investment companies from gaining economic benefits, or barring them from managing pension funds or participating in government projects, regardless of police reports.”

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