Lee Chanjin's First PEF Meeting as FSS Governor... MBK Excluded

FSS Directly Selects Key PE Attendees for the Meeting

Lee Chanjin, Governor of the Financial Supervisory Service, will meet with the heads of institution-only private equity fund (PEF) management firms for the first time since taking office. Although this will be the first opportunity to hear the industry's opinions following the announcement of new PEF regulations at the end of last year, the industry leader MBK Partners is expected to be excluded.

According to the investment banking industry on January 12, the Financial Supervisory Service plans to host a meeting with the heads of major PEF management firms at its headquarters in Yeouido, Seoul, on January 20. Leaders from around 10 of the country’s leading general partners (GPs) are expected to attend.

Park Byunggun, CEO of Daishin PE and Chairman of the Korea PEF Association, is also scheduled to attend. However, it is reported that the list of participants was compiled directly by the Financial Supervisory Service, not through the PEF Association. MBK Partners, the industry leader embroiled in controversy over the Homeplus incident, is expected to be excluded from the invitation list. The Financial Supervisory Service appears to have taken into account concerns about conflicts of interest related to judicial risks and disciplinary reviews involving key MBK Partners executives.

Previously, at a meeting chaired by former Governor Lee Bokhyeon in December 2024, all 12 major domestic GPs-including MBK Partners Vice Chairman Kim Kwangil, Hahn & Company, STIC Investments, IMM PE, VIG Partners, JKL Partners, H&Q, SKS PE, UCK Partners, Skylake, Stonebridge Capital, and KCGI-were present. At that time, MBK Partners was in the midst of a management dispute with Korea Zinc Chairman Choi Yunbeom.

The upcoming meeting is expected to focus on the “Institution-Only Private Equity Fund System Improvement Plan” announced last month. In particular, guidelines are likely to be formalized to strengthen internal control obligations for GPs, including the “one-strike-out” rule for expulsion from the industry in the event of a serious legal violation, and enhanced notification obligations to employees during corporate acquisitions.

Lee Chanjin, Governor of the Financial Supervisory Service, is delivering a New Year's address at the "2026 Pan-Financial New Year's Gathering" held at Lotte Hotel in Jung-gu, Seoul, on the afternoon of the 5th. 2026.1.5 Photo by Kang Jinhyung