Kyobo Securities Introduces 'Consumer Protection Manager' System to Strengthen Consumer Protection Framework

Kyobo Securities announced on March 18 that it will introduce the “Consumer Protection Manager” system at its Wealth Management (WM) branches nationwide to strengthen the rights and interests of financial consumers.

A “Consumer Protection Manager” is a professional with expertise in financial products who is responsible for promoting thorough sales procedures at the business sites and continuously checking compliance with relevant regulations.

Through this system, the company aims to spread a culture of voluntary internal control at its branches and further enhance its capabilities in protecting financial consumers.

The managers will conduct role-playing exercises and practical training focused on preventing complaints throughout the key financial product sales process, and will carry out on-site consumer protection activities through one-on-one coaching.

This system is being implemented based on the financial consumer protection governance that Kyobo Securities has established. Kyobo Securities has been strengthening its consumer protection management system by operating an “Internal Control Committee for Financial Consumer Protection,” which is chaired by the CEO and includes the Chief Consumer Officer (CCO), Compliance Officer, Chief Risk Officer (CRO), and other executives.

Chulwoo Kim, CCO of Kyobo Securities, stated, “Through the Consumer Protection Manager system, we will strengthen the internal control foundation at the sales field and further solidify our customer-centric financial services,” adding, “We will continue to expand consumer-centered management to create a financial environment where customers can transact with peace of mind.”

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