Chairman Lee Okwon: "Devoting to Strengthening Financial Consumer Protection and Transparency"

Lee Okwon, Chairman of the Financial Services Commission. Photo by Kang Jinhyung

원본보기 아이콘

Lee Okwon, Chairman of the Financial Services Commission, stated that the Financial Services Commission must devote itself to strengthening consumer protection, transparency, and the public interest in finance through future reforms.

On the morning of September 29, at a senior staff meeting held at the Government Complex Seoul in Sejong-ro, Seoul, Chairman Lee emphasized, "We must take to heart the issues and criticisms raised regarding financial administration during the organizational restructuring discussions, and approach this as our last chance to earn the public's trust with a sense of extraordinary resolve." He added, "We must dedicate ourselves to self-reform to enhance consumer protection, public interest, and transparency in finance going forward."

He said, "Let us boldly innovate our organization and overall working methods to fundamentally address the recurring issues of consumer harm caused by financial accidents and crimes, the lack of public interest, transparency, and on-site communication in financial administration, and the insufficient support for people's livelihoods and the real economy."

Chairman Lee made three main requests to the staff of the Financial Services Commission. First, he asserted, "We must break away from the familiar, finance-centric perspective, listen closely to the real voices of consumers, clients, and vulnerable groups in finance, and take the initiative to change our existing mindset for a major shift toward consumer-centered finance."

Second, he added, "Please focus on achieving tangible results that the public can feel in the Financial Services Commission's various missions, such as thorough crisis response to internal and external uncertainties, a major shift toward productive finance and capital market revitalization, and the achievement of visible outcomes in inclusive finance, all with a sense of duty as public servants."

Lastly, he requested, "Since the Financial Services Commission is still seen as distant by the market, please make efforts to enhance communication in the field." He further asked, "Remember that the authority of government agencies comes from competence, not just power, and approach all work with humility."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.