Lee Chanjin Expresses Regret Over FSS Separation, Promises Personnel Exchanges and Improved Employee Treatment

Lee Chanjin, Governor of the Financial Supervisory Service, is attending the 'Financial Supervisory Service Governor - Financial Investment Company CEO Meeting' held at the Korea Financial Investment Association in Yeouido, Seoul on September 8, 2025. Photo by Kang Jinhyung

Lee Chanjin, Governor of the Financial Supervisory Service, expressed his regret regarding the government's organizational restructuring that decided to separate the Financial Consumer Protection Agency from the Financial Supervisory Service.

In an internal notice sent to Financial Supervisory Service employees on September 8, Governor Lee stated, "The management, including myself, and the vast majority of our employees made every possible effort from various angles to ensure that the supervisory system could be restructured in a reasonable manner. However, I am ultimately very disappointed by the outcome."

He continued, "As Governor, I am more aware than anyone of the concerns and anxieties you may be feeling. Moving forward, I will actively participate in discussions at the National Assembly and consultations with relevant agencies to meticulously address the details, including the functions and roles of both the Financial Supervisory Service and the Financial Consumer Protection Agency."

He added, "Through personnel exchanges between the Financial Supervisory Service and the Financial Consumer Protection Agency, as well as improvements in employee treatment, I will do my best to minimize your concerns."

The Democratic Party of Korea and the government held a high-level party-government meeting the previous day and announced an organizational restructuring plan. Under this plan, the Financial Services Commission will be dismantled, and domestic financial policy work will be transferred to the Ministry of Economy and Finance. The Financial Services Commission will be reorganized as the Financial Supervisory Commission, and the Financial Consumer Protection Agency will be separated and become independent from the Financial Supervisory Service.

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