[Breaking] Eun Seong-su: "The Bank of Korea, which criticized the 'Jeongeum Act,' has admitted to being Big Brother itself"

Criticism of 'Big Brother' is Excessive... The Institution Currently Overseeing the Korea Financial Telecommunications & Clearings Institute is the Bank of Korea

[Image source=Yonhap News]

[Asia Economy reporters Wondara and Seungseop Song] Eun Seong-su, Chairman of the Financial Services Commission, criticized the Bank of Korea's claim that the Electronic Financial Transactions Act (EFT Act) is a 'Big Brother,' saying, "The Bank of Korea currently oversees the Korea Financial Telecommunications and Clearings Institute, so the Bank of Korea has essentially admitted to being the Big Brother itself."

On the morning of the 19th, after a private meeting with heads of policy banks at the Korea Federation of Banks in Jung-gu, Seoul, Chairman Eun responded to reporters' questions about the Bank of Korea's criticism by saying, "Calling it a Big Brother is an exaggerated statement."