Sehun Lee, Senior Deputy Director, "Difficult to Find Buyer for MG Insurance... Under Discussion with Financial Authorities"

"If Uncertainty Continues, Confusion Will Follow...
We Will Handle the Matter as Quickly as Possible"

Sehun Lee, Senior Deputy Governor of the Financial Supervisory Service, held a meeting at the Financial Supervisory Service in Yeouido on the 25th and disclosed 'recent inspection cases by the Financial Supervisory Service regarding unfair transactions with stakeholders.'

Lee Se-hoon, Senior Deputy Governor of the Financial Supervisory Service, stated on the 25th that "it is difficult to find a third-party buyer in the market" regarding the sale of MG Insurance (MG Sonbo).

On the morning of the same day, Lee held a meeting at the FSS headquarters in Yeouido titled "Recent FSS Inspection Cases on Unfair Transactions with Stakeholders," and said, "We are discussing how to handle MG Sonbo going forward."

He explained, "We are trying to find a balance between maintaining the order of the insurance market and protecting the interests of insurance policyholders. On one hand, there is a principle that market order should not be disrupted, and on the other hand, there is a principle that the rights of insurance policyholders must be fully guaranteed. We are considering ways to balance these two opinions."

He continued, "It is difficult to specify a deadline regarding the timing of handling MG Sonbo," adding, "Since prolonged uncertainty could cause confusion, we plan to take action as soon as possible."