[Asia Economy Reporter Kim Hyo-jin] On the 23rd, the Financial Supervisory Service (FSS) carried out a large-scale personnel reshuffle, replacing more than 70% of department heads following a major organizational restructuring that significantly expanded the Financial Consumer Protection Division.
Similar to the organizational restructuring, the FSS explained that it placed a large number of talented personnel with diverse financial supervisory experience under the Financial Consumer Protection Division, emphasizing the strengthening of consumer protection manpower.
The FSS also focused on generational change, bold promotion of capable talents, placing the right people in the right positions based on expertise, and actively appointing female personnel.
Accordingly, promotions were made centered on deputy directors and team leaders born between 1967 and 1969 (19 people), and three individuals born in 1970 were appointed as head of headquarters.
The 1970-born appointees are Park Sang-won, Head of the Financial Group Supervision Office (former Deputy Director of the Planning and Coordination Bureau), Lee Sang-ah, Head of the Pension Supervision Office (former Deputy Director of the Pension Finance Office), and Lee Chang-woon, Head of the Inclusive Finance Office (formerly seconded to the Korea Deposit Insurance Corporation).
Female bureau and office heads include Lee Sang-ah, Head of the Pension Supervision Office, Kim Mi-young, Director of the Credit Finance Inspection Bureau (former Head of the Anti-Money Laundering Office), and Park Sun-hee, Director of the Capital Market Investigation Bureau (former Director of the Talent Education Institute).
The FSS stated, "We have advanced three female bureau and office heads with outstanding work ability and leadership to frontline departments," and added, "Team leader and team member personnel changes will be completed by the end of February to finalize the regular personnel reshuffle."
Prior to the department head personnel changes, the FSS also implemented an organizational restructuring on the same day. Currently, the Financial Consumer Protection Division under the Financial Consumer Protection Officer (Deputy Governor) will be expanded and reorganized into two main pillars: consumer damage prevention (preemptive) and rights protection (post-event).
Each division will be exclusively managed by a Deputy Governor to establish a responsible management system. The Financial Consumer Protection Division’s organization has grown from the current 6 departments to 13, an increase of 7, and the number of teams has expanded from 26 to 40, an increase of 14.
FSS Governor Yoon Seok-heon said in a briefing regarding the organizational restructuring, "This organizational restructuring plan was prepared to respond to the recent trend of strengthening financial consumer protection, including the legislative promotion of the Financial Consumer Protection Act, and to strengthen function-based supervision of high-risk financial products designed, solicited, and sold across various financial sectors."
Below is the personnel list.
◇ Appointment of Bureau and Office Heads
▲ Director of General Affairs Bureau Park Kwang-woo ▲ Director of Public Relations Office Lee Bo-won ▲ Director of International Bureau and Deputy Director of Financial Hub Support Center Kim Byung-chil ▲ Chief Secretary Yang Jin-ho ▲ Director of Fintech Innovation Office Kim Yong-tae ▲ Director of Anti-Money Laundering Office Choi In-ho ▲ Head of Financial Group Supervision Office Park Sang-won ▲ Director of Life Insurance Inspection Bureau Yang Hae-hwan ▲ Director of Non-Life Insurance Inspection Bureau Cha Soo-hwan ▲ Director of Insurance Sales Inspection Office Lee Woo-seok ▲ Director of Insurance Risk System Office Kim Bong-gyun ▲ Director of Special Bank Inspection Bureau Park Young-gyu ▲ Director of Foreign Exchange Supervision Bureau Kim Dong-hyun ▲ Director of Credit Finance Supervision Bureau Jung Yong-geol ▲ Head of Mutual Finance Supervision Office Han Hong-gyu ▲ Director of Capital Market Special Judicial Police Hwang Jin-ha ▲ Director of Financial Investment Inspection Bureau Ham Yong-il ▲ Director of Asset Management Inspection Bureau Choi Won-woo ▲ Director of Disclosure Review Office Kim Jin-guk ▲ Director of Accounting Investigation Bureau Hong Soon-gan ▲ Director of Accounting Planning and Supervision Office Kim Eun-jo ▲ Director of Financial Product Analysis Office Park Jong-gil ▲ Head of Pension Supervision Office Lee Sang-ah ▲ Director of Financial Education Bureau Jung Hyung-gyu ▲ Head of Inclusive Finance Office Lee Chang-woon ▲ Director of Rapid Complaint Handling Center Kim Ho-jong ▲ Director of Illegal Finance Response Team Jung Ki-young ▲ Director of Complaint Dispute Investigation Office Kim Dong-gyu ▲ Head of Busan-Ulsan Support Office Kim Soo-heon ▲ Head of Gyeongnam Support Office Hwang Jung-wook ▲ Head of Gangwon Support Office Lee Jong-hwan ▲ Director of Frankfurt Office Cho Jung-seok
◇ Transfers of Bureau and Office Heads
▲ Director of Planning and Coordination Bureau Lee Geun-woo ▲ Director of Human Resources Development Office Seo Kyu-young ▲ Director of Legal Affairs Office Kim Jung-heum ▲ Director of Supervision General Bureau Cho Young-ik ▲ Director of Sanctions Review Bureau Jang Jin-taek ▲ Director of Information Strategy Bureau Jang Kyung-woon ▲ Director of Insurance Supervision Bureau Kang Han-gu ▲ Director of General Bank Inspection Bureau Kim Young-joo ▲ Director of Savings Bank Supervision Bureau Seo Jung-ho ▲ Director of Credit Finance Inspection Bureau Kim Mi-young ▲ Director of Capital Market Supervision Bureau Lee Kyung-sik ▲ Director of Asset Management Supervision Bureau Park Bong-ho ▲ Director of Corporate Disclosure Bureau Kim Tae-sung ▲ Director of Capital Market Investigation Bureau Park Sun-hee ▲ Director of Special Investigation Bureau Kim Young-chul ▲ Director of Financial Consumer Protection Supervision Bureau Hong Gil ▲ Director of Financial Product Sales Supervision Bureau Sung Soo-yong ▲ Director of Financial Product Review Bureau Kim So-yeon ▲ Director of Dispute Mediation Bureau 1 Park Jong-su ▲ Director of Dispute Mediation Bureau 2 Kim Cheol-ung ▲ Head of Insurance Fraud Response Team Lee Yong-gwan ▲ Director of Audit Office Park Sung-gi ▲ Director of Inspection Office Kang Sun-nam ▲ Head of Daegu-Gyeongbuk Support Office Hwang Sung-yoon ▲ Head of Gwangju-Jeonnam Support Office Hwang Nam-jun ▲ Head of Daejeon-Chungnam Support Office Lee Kwan-jae ▲ Head of Chungbuk Support Office Jung Kyu-sung ▲ Director of Tokyo Office Lee Jae-yong
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