Financial Supervisory Service Implements Organizational Restructuring and Department Head Appointments... Establishes 'Seomin Geumyung Boho-guk' (Consumer Finance Protection Bureau)

Executive and Department Head Personnel Changes Implemented
74 of 75 Department Heads Reassigned

The Financial Supervisory Service (FSS) has carried out a major organizational restructuring and department head-level personnel appointments to respond to digital financial innovation and strengthen consumer protection. The generational shift within the organization has also accelerated, with department heads mainly born between 1972 and 1975, and even those born up to 1977 being appointed as headquarters department heads.

On the 10th, the FSS stated, "We have reorganized the structure to systematically respond to the rapidly changing digital and IT financial innovations and to enhance protection for financially vulnerable groups."

Looking at the main points of the restructuring, first, a new 'Digital and IT Division' was established, and its head was promoted to deputy governor level. The dedicated electronic finance teams for PG and prepaid services were significantly expanded from two teams to two departments.

Additionally, the 'Consumer Finance Protection Bureau,' a dedicated department for loan businesses and debt collection, was newly established, and the illegal private finance response team was expanded, thereby strengthening the Financial Consumer Protection Office.

Along with this organizational restructuring, the FSS also conducted a large-scale personnel reshuffle, reassigning 74 out of 75 headquarters and support department heads. Notably, more than half (36) of the headquarters department heads were newly promoted.

An FSS official explained, "Through this organizational restructuring, we will be able to respond swiftly to the latest changes in the financial environment such as digital finance and further strengthen financial consumer protection."

Meanwhile, in the newly established Digital and IT Division, a data expert who has worked at an economic research institute and a credit rating agency was appointed as an executive, and a senior department head with extensive experience in financial IT was assigned, focusing on enhancing expertise.

The role of female managers was also expanded. A female department head was appointed to the main department (Accounting Supervision Bureau), and the secretarial office work, which had been handled by the chief secretary, was transferred to the secretary team leader, who is a woman. This is the first case since the organization's inception.