FSS Holds Responsibility Structure Briefing Session for Financial Investment and Insurance Companies

The Financial Supervisory Service announced that, together with the Korea Financial Investment Association, the Korea Life Insurance Association, and the General Insurance Association of Korea, it held a "Responsibility Structure Briefing Session for Financial Investment and Insurance Companies" in Yeouido, Seoul, on June 19, 2025.

This briefing session was organized to enhance understanding of the responsibility structure system among financial companies and to share best practices. The Korea Financial Investment Association and industry representatives?including Samsung Life Insurance, Kiwoom Asset Management, and Kim & Chang Law Office?gave presentations on the practical aspects of preparing responsibility structures and shared exemplary cases.

The Financial Supervisory Service provided guidance on the responsibility structure manual, sanction operation guidelines, and the results of inspections on the fulfillment of internal control obligations at the four major banks.

In particular, the agency shared the results of on-site inspections regarding the adequacy of executives' fulfillment of management obligations in the banking sector, where the responsibility structure system was fully introduced this year. It also presented necessary infrastructure improvements and implementation principles to ensure proper fulfillment of the six key management obligations for executives.

A representative from the Financial Supervisory Service emphasized, "Going forward, the FSS will systematically manage and support the stable establishment of the new system by conducting preliminary checks on preparation status and monitoring operational practices according to the implementation schedule for each sector."