[2020 National Audit] Yoon Seok-heon "Full Survey of Private Equity Funds to Proceed with 60 Cases Annually... Completion by 2023"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] Yoon Seokheon, Governor of the Financial Supervisory Service, stated on the 23rd that the full-scale investigation of over 10,000 private equity funds currently underway is expected to be completed around 2023.

At the comprehensive audit of the National Assembly's Political Affairs Committee on the same day, Governor Yoon said, "The investigation of nine private equity funds was completed by the end of last month," and added, "Currently, we are conducting about 60 cases annually." He explained that they are accelerating efforts with the goal of finishing by 2023.

Governor Yoon emphasized, "I have repeatedly discussed with Eun Seongsoo, Chairman of the Financial Services Commission, and considering the scale of financial industry development, expanding personnel is absolutely necessary," adding, "In Korea, the ratio of financial supervisory personnel to GDP is about 1.2%, whereas in the UK it is around 6%, so consideration is urgently needed."