Filling Temporary Positions and Only Shuffling Seats
Promotions Delayed by 4 to 6 Years Compared to Other Ministries
Heavy Workload and Lower Salaries Than Private Sector
Personnel Moves Are the Only Reward
Serious Personnel Bottleneck Fuels Internal Dissatisfaction
The personnel bottleneck at the Financial Services Commission (FSC) is deepening. The FSC has been experiencing personnel stagnation for over 10 years. With the transition to an acting presidential authority system, promotions are expected to be further delayed.
According to financial authorities on the 3rd, the FSC announced last month appointments at the director-general level, including the Planning and Coordination Officer, Structural Improvement Policy Officer, Digital Finance Policy Officer, and Financial Intelligence Unit Institutional Operation Planning Officer. However, these appointments were transfers rather than promotions.
The FSC is known for very slow promotions among civil servants who passed the Administrative Examination. The difference is clear when looking at promotions to the rank of Deputy Director-General (Grade 3), often called the "flower of civil servants." Other ministries promoted those who passed the 43rd to 44th Administrative Examination to Deputy Director-General positions 3 to 4 years ago.
The Ministry of Economy and Finance is also known for slow promotions, but from 2023, those who passed the 44th Administrative Examination began to be promoted in earnest. Nine administrative examination passers at the level of Secretary were promoted to Deputy Director-General. However, at the FSC, even those who passed the 44th Administrative Examination have not all been promoted to Deputy Director-General yet.
The personnel bottleneck is also evident when looking at director-level spokespersons. Son Juhyung, who was dispatched as a spokesperson, passed the 42nd Administrative Examination. The director returning as spokesperson after being dispatched to the Office for Government Policy Coordination also passed the 42nd Administrative Examination. In Ministry A, a spokesperson was appointed from the 45th Administrative Examination.
Since the transition to an acting presidential authority system following the declaration of emergency martial law, promotions have effectively come to a halt. Choi Sangmok, acting president, acting prime minister, and acting deputy prime minister for economic affairs, recommended promotions to each ministry, but it is practically difficult. This is why the FSC only announces transfers that involve position changes.
In the past, personnel bottlenecks were mainly an issue among section chiefs, but recently concerns about stagnation among assistant section chiefs have grown. Civil servants have a heavier workload than private companies but receive much lower salaries. The only reward is promotion. Civil servants who passed the Administrative Examination take pride in working for the public interest (national interest). However, as the only reward, promotion is not properly realized, internal dissatisfaction is reportedly increasing.
Outside the FSC, some point to vice minister-level appointments as a factor exacerbating the personnel bottleneck. A CEO of a financial company said, "The FSC is a small organization with fewer than 400 people, so there are fewer promotion positions than other ministries, and the replacement of political appointees and Grade 1 officials is the biggest factor creating promotion opportunities," adding, "Since there has been no replacement of vice ministers, promotions are difficult."
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