[2024 National Audit] "FSS Chairman Refuses to Disclose Business Expenses... Must Investigate Cause of FSS Overtime Pay Depletion"

Kim Byung-hwan, Chairman of the Financial Services Commission, and Lee Bok-hyun, Governor of the Financial Supervisory Service, are attending the comprehensive audit of the Financial Services Commission and the Financial Supervisory Service held at the National Assembly's Political Affairs Committee on the 24th. Photo by Kim Hyun-min

Concerns were raised regarding Lee Bok-hyun, Governor of the Financial Supervisory Service (FSS), refusing to disclose detailed expenses of his business promotion funds and the depletion of the FSS's overtime allowance budget.

At the comprehensive audit of the National Assembly's Political Affairs Committee on the 24th, Cho Seung-rae, a member of the Democratic Party of Korea, stated, "While Kim Byung-hwan, Chairman of the Financial Services Commission, has disclosed detailed information on business promotion expenses including location, amount, and purpose, Governor Lee Bok-hyun of the FSS continues to refuse to do so," and argued, "The FSC needs to request card usage details during the FSS budget approval process."

Regarding the depletion of the FSS's overtime allowance budget, he added, "I was told that the personnel expenses budget was mechanically increased based on the previous year's figures," and pointed out, "It is necessary to closely examine whether this is an issue in the budget formulation process or if there were any changes during the operational process."

Representative Cho requested Chairman Kim, saying, "It appears that unnecessary tasks have increased at the FSS," and asked, "Please organize the specific changes in the FSS's operational process."