[2020 National Audit] Yoon Seok-heon Responds to Criticism on Financial Supervisory Service Retiree Reemployment: "We Will Strengthen Internal Controls"

Yoon Seok-heon, Governor of the Financial Supervisory Service. Photo by Yonhap News Agency

[Asia Economy Reporter Kim Min-young] Yoon Seok-heon, Governor of the Financial Supervisory Service (FSS), stated on the 23rd that "internal controls will be strengthened" regarding the reemployment of former FSS employees at financial companies.

Governor Yoon made this remark in response to a question from Yoon Doo-hyun, a member of the People Power Party, during the National Assembly's Political Affairs Committee audit held that day.

Rep. Yoon said, "Especially according to the KDI report, there are many criticisms that financial authorities' personnel are being hired by financial companies to evade FSS sanctions," adding, "Such behavior creates distrust in the organization and causes controversy, so please pay special attention and prepare improvement measures."

Governor Yoon said, "The FSS is also considering improvement plans on its own, and we are well aware of the discussions outside. We believe it is important to maintain the organization's reliability and reputation."

He continued, "However, structurally, employees retire after reaching the retirement age, so the FSS cannot exert influence over retirees. We will strengthen control over those inside the organization and report once the situation is organized."