Photo News - Financial Services Commission

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FSC Chairman inspects launching of new insurance service enabling life insurance policyholders to convert death benefits into lifetime accessOct 30, 2025

Chairman Lee Eog-weon of the Financial Services Commission visited a local insurer's customer service center on October 30 to check the operation of the newly launched insurance service through which life insurance policyholders can convert death benefits into lifetime access in retirement. During the visit, Chairman Lee observed the application process and service simulation side-by-side with an actual customer on-site to check any issue or point of inconvenience from a customer's perspective and see whether there needs to be any further explanation about the program given to the customer. Since this service is being newly introduced for the very first time, Chairman Lee urged life insurers to make sure that their customers are provided with necessary information and adequate explanations.
FSC Chairman meets with financial investment businesses and holds talks on transition to productive financeOct 30, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with a group of CEOs in the financial investment business sector on October 30 and held talks on ways to facilitate a transition toward productive finance. At the meeting, Chairman Lee spoke about the importance of boosting the supply of venture capital to facilitate a structural shift taking place in the Korean economy. To this end, Chairman Lee pledged to lay ground and bolster regulatory support to enable securities businesses to more actively provide venture capital to innovative businesses. With regard to the private equity fund sector, Chairman Lee vowed to strengthen foundations to foster "a culture of responsible investment" and seek regulatory improvements to make relevant rules more consistent with global standards.
FSC Chairman meets with Citigroup Chair and CEO Jane FraserOct 30, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with Citigroup Chair of the Board and CEO Jane Fraser at his office in Seoul Government Complex on October 30. During the meeting, Chairman Lee talked about the Korean government's ongoing efforts to promote productive finance and push for a major transition through which heavily concentrated funds in the housing market currently can flow into capital markets, thereby facilitating businesses in various growth stages to raise funds more easily. In this regard, Chairman Lee asked for Citigroup's support in enhancing corporate financing activities for innovative companies in Korea and pledged to maintain close communication going forward.
FSC Chairman attends Anti-phising Sharing and Analysis Platform (ASAP) launching eventOct 29, 2025

Chairman Lee Eog-weon of the Financial Services Commission attended the Anti-phising Sharing and Analysis Platform (ASAP) launching event with officials from related authorities and organizations, financial industry groups, and private sector experts on October 29. At todays meeting, FSC Chairman Lee Eog-weon spoke about the importance and urgency of boosting the anti-vishing capability and responsibility of financial companies. In this regard, Chairman Lee said that the government will make continuous efforts to provide policy support to make sure that financial companies are equipped with the necessary AI tools and infrastructure to effectively counter vishing scams. In the process, Chairman Lee pledged to maintain close communication and cooperation with related authorities and industry groups.
FSC Chairman oversees disaster response and safety management drill in financial sectorOct 28, 2025

Chairman Lee Eog-weon of the Financial Services Commission presided over this year's disaster response and safety management drill in the financial sector on October 28. The FSC is mandated to oversee response measures and procedures in the event of any disasters or accidents taking place in the financial sector, which may have the potential to cause major disruption in national core infrastructures. This year's disaster response and safety management drill took place under the scenario of a fire erupting at the Korea Securities Computing Corporation (KOSCOM) causing a disruption in IT system operation and potentially leading to panic selling. Under this scenario, Chairman Lee convened a central disaster response meeting to review response strategies and action plans. At the meeting, participants also checked each institution's preparedness and discussed measures for improvement under the scenario. At the meeting, Chairman Lee stressed the importance of being thoroughly prepared for disaster situations and urged all participating organizationsto step up efforts to strengthen their own disaster response and prevention capabilities.
FSC Chairman delivers congratulatory remarks at 10th annual finance day commemoration eventOct 28, 2025

Chairman Lee Eog-weon of the Financial Services Commission attended this year's finance day commemoration event on October 28 and delivered congratulatory remarks. The publicly designated day intended to raise the awareness on finance and confer awards to those who have made contributions to the financial industry marks its tenth year this year. In his speech, Chairman Lee spoke about the significance and growing role of finance in people's everyday lives and outlined the government's policy plans to make financial services more reliable, productive, and inclusive. In this regard, Chairman Lee said that the financial sector needs to grow as a platform where financial companies, businesses, and individuals can prosper together and create social values.
FSC Chairman meets with IDB President Ilan GoldfajnOct 24, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with Ilan Goldfajn, President of the Inter-American Development Bank at his office in Seoul Government Complex on October 24. At the meeting, the two leaders discussed ways to strengthen financial cooperation between the two organizations and between Korea and Latin America and the Caribbeanin the areas of digital finance, green and sustainable finance, and the use of artificial intelligence in the financial sector.
FSC Chairman visits microfinance support centerOct 23, 2025

Chairman Lee Eog-weon of the Financial Services Commission visited the central microfinance support center in Seoul on October 23 and held talks with the center staff on ways to bring about improvements to the current microfinance and debt workout assistance programs. During his visit, Chairman Lee spoke about the importance of closely engaging with the voices on the ground to be able to provide more effective solutions and bring about improvements. After listening to the needs and demands from the center staff, Chairman Lee said that the FSC will closely examine the items and policy tasks raised at today's meeting to be able to incorporate them into rules and legislationfor implementation.
FSC Chairman holds meeting on boosting efforts to facilitate growth of local economiesOct 22, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with officials from policy financial institutions, industry associations, and local businesses in Busan on October 22 to have discussions on ways to boost the role of finance in facilitating the growth of local economies. At the meeting, Chairman Lee stressed the importance of seeking a transition toward productive finance and said that boosting the role of financial sector in support for local economies is a major part of that effort. To that end, Chairman Lee said that policy financial institutions will expand the supply of financing programs tailored to the needs of local economies by about KRW25 trillion a year by 2028. In addition, to encourage banks, mutual finance businesses, and savings banks in the private sector to increase their supply of financing to local economies, the FSC will consider ways to ease rules on their loan-to-deposit spreads and to provide stronger incentives. There will also be efforts to boost venture investment and foster vibrant startup ecosystems in local economies.
FSC Chairman holds meeting with insurance businesses and discusses transition toward productive financeOct 16, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with insurance businesses for the first time since taking office and held discussions on ways to propel a transition toward productive finance on October 16. In his opening remarks, Chairman Lee spoke about the importance of the insurance industry seeking growth on a long-term horizon and making sure that the industry can regain confidence from the public. Chairman Lee also said that insurance companies' long-term asset management function makes them uniquely situated to contribute to the establishment of a virtuous cycle between a reliable finance (prudential management) and a productive finance. While stressing the importance of consumer protection as an immutable value and principle in insurance services, Chairman Lee urged insurance businesses to strengthen internal control and foster a culture of responsibility centered on consumer needs.
FSC Chairman holds meeting on propelling transition toward more consumer-focused financial industryOct 15, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with financial consumer groups, microfinance experts, and financial industry associations on October 15 to have discussions on facilitating a transition toward a more consumer-oriented financial industry. At the meeting, Chairman Lee outlined four major policy directions to make financial policy-making more consumer-oriented. First, a financial consumer policy review committee will be newly established with participation from consumers and private sector experts. Second, with regard to consumer damage and loss, there will be efforts to strengthen both preventive and remedial measures through improvements to financial companies' governance apparatus. Third, there will be an expansion in the availability of microfinance support intended for lower income households and vulnerable groups. Fourth, there will be efforts to actively counter and root out financial crimes and illicit activities targeted at vulnerable groups, such as illegal private lending and vishing scams. While speaking about the importance of having concerted efforts from all stakeholders, Chairman Lee urged all participants to maintain close communication and cooperation to enhance consumer protection and microfinance support.
FSC Chairman holds meeting on cybersecurity and IT infrastructure with related financial institutionsOct 02, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting on ensuring cybersecurity and safety in IT infrastructure in the financial sector with officials from related financial institutions on October 2. In the wake of recent cyberattacks and IT infrastructure damages affecting the financial sector, Chairman Lee urged officials to make sure to closely examine and inspect their own cybersecurity and IT infrastructures. At the meeting, Chairman Lee also discussed key policy aims to make the financial industry more productive, consumer-oriented, and reliable to be able to support a sustainable growth in our economy.