Lee Okwon on Speculation of Dissolving Financial Services Commission: "Inappropriate to Comment, Will Speak When Necessary"

by Lee Changhwan

Published 02 Sep.2025 13:09(KST)

Lee Okwon Refrains from Commenting on Speculation Over Dissolution of Financial Services Commission
Says, "Not Appropriate to Discuss Hypothetical Scenarios" at Confirmation Hearing
Restructuring Proposal Under Review by Lee Jaemyung Administration
Promises to Share Opinion When Details Are Disclosed

Lee Okwon, nominee for Financial Services Commission chairman, is reviewing documents at the confirmation hearing held by the National Assembly's Political Affairs Committee on September 2, 2025. Photo by Kim Hyunmin

Lee Okwon, nominee for chairman of the Financial Services Commission, stated on September 2 that "it is not appropriate to comment (for or against, etc.)" regarding the ongoing speculation from the government and the ruling party about the possible dissolution of the Financial Services Commission.

At the confirmation hearing held by the National Assembly's Political Affairs Committee that day, Lee responded to questions about the proposed restructuring of financial authorities by saying, "It is not appropriate to speak or discuss based on hypothetical scenarios."

The National Policy Planning Committee of the Lee Jaemyung administration has been discussing a proposal to restructure the financial supervisory system, which includes transferring domestic financial policy responsibilities currently held by the Financial Services Commission to the Ministry of Economy and Finance, and merging the Financial Services Commission with the Financial Supervisory Service to create a new Financial Supervisory Commission.

Previously, in response to advance questions, Lee also asked for understanding, stating, "It is difficult to express an opinion on a matter that could have a broad impact on the financial market when a specific proposal for restructuring the financial supervisory system has not been released."

When Assemblyman Lee Yangsoo of the People Power Party pointed out, "There seems to be no conviction to defend the Financial Services Commission," Lee replied, "If the details are released and I am given an opportunity to express my opinion, I will speak as necessary at the appropriate time."