Financial Supervisory Service Receives 'B Grade' in Management Evaluation for Second Consecutive Year

The Financial Supervisory Service reportedly received a 'B grade' for two consecutive years in the institutional management evaluation.

According to financial authorities on November 20, the Management Evaluation Committee, overseen by the Financial Services Commission, awarded a 'B grade' to the Financial Supervisory Service in last year's management evaluation and conveyed this result to the agency.

The Financial Services Commission conducts its own evaluation each year for affiliated agencies excluded from the Ministry of Economy and Finance's public institution assessment, assigning results on a six-grade scale from S to ER based on a combination of quantitative and qualitative scores.

The Financial Supervisory Service received an A grade in the 2022 management evaluation, marking the first time in seven years since 2015, during the first year of former Governor Lee Bokhyeon's tenure. However, after dropping to a B grade in 2023, the agency has now received a B grade for two consecutive years.

While the Financial Supervisory Service received favorable assessments for its core work, such as supervision and inspection of financial companies, it is reported that factors such as controversy over the non-disclosure of business promotion expenses during Lee Bokhyeon's tenure as governor contributed to point deductions.

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