After Martial Law, Large-Scale Overhaul at FSC... Lee Bok-hyun Says "Appropriate Personnel Measures"

Current Issues Inquiry at the National Assembly's Political Affairs Committee Full Meeting on the 18th

Lee Bok-hyun, Governor of the Financial Supervisory Service (FSS), stated on the 18th that the large-scale personnel reshuffle of directors and department heads, carried out amid the state of emergency and impeachment political turmoil, was an appropriate measure.

During the plenary session of the National Assembly's Political Affairs Committee held that morning, when Kim Hyun-jung, a member of the Democratic Party of Korea, pointed out that the FSS decided on a large-scale personnel reshuffle amid significant political and economic confusion following the martial law situation, Lee explained, "There are nine deputy governors, but four seats were vacant," adding, "There was continuity by promoting team leaders in charge of the relevant tasks to directors."

Lee also revealed that he took preemptive personnel measures out of concern for a leadership vacuum in the financial authorities with only six months left in his term. He emphasized, "After my term expires in June next year, it will take until around September or October for the financial authorities' leadership to be set up, so I placed appropriate personnel to manage the market for the next 10 months," adding, "If I had not taken personnel measures, I would have just watched the market operate for the next 10 months."

Earlier, on the 10th, the FSS conducted a large-scale personnel reshuffle by replacing department heads. Among 75 department heads in headquarters and support departments, 74 (91.4%) were reassigned through transfers and promotions. Notably, more than half of the headquarters department heads were newly promoted.

In response to criticism that the large-scale reshuffle caused internal confusion within the FSS, Governor Lee said, "There will always be many opinions about personnel matters," and added, "Personnel issues do not seem to be matters to report to the National Assembly."

Lee Bok-hyun, Governor of the Financial Supervisory Service, is attending an emergency inquiry on urgent financial issues held by the National Assembly's Political Affairs Committee on the 18th. Photo by Kim Hyun-min