Photo News - Financial Services Commission

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Vice Chairman presides over meeting on AI transformationJun 18, 2026

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting on AI transformation with financial companies and related organizations and introduced an updated version of the AI guidelines in the financial sector on June 18. In his opening remarks, Vice Chairman Kwon spoke about the potential of embracing AI agentic services in making financial services more productive, more inclusive, and more trustworthy, and made suggestions in ways to design a new regulatory framework for an era of AI transformation. In this regard, Vice Chairman Kwon said that there needs to be (a) a regulatory and supervisory framework that can ensure a level playing field with regard to the use of AI, (b) clear standards established to make sure that innovation is sought responsibly, and (c) mechanisms to preemptively manage risks to effectively cope with AI-related cyber risks. At today's meeting, the FSC also introduced an updated version of the AI guidelines in the financial sector detailing seven specific principles for the use of AI by financial companies.
NEAC and FSC hold meeting on financial policy agendasJun 18, 2026

The National Economic Advisory Council and the Financial Services Commission held a meeting on the government's capital market agendas and productive finance policies on June 18. As the NEAC serves as a presidential policy advisory body, the joint meeting was prepared today to foster greater cooperation on financial policy formulation between the two organizations. At the meeting, FSC Chairman Lee Eog-weon delivered opening remarks where he emphasized the need to consistently push for a sweeping overhaul in the financial system to make financial services more productive, more inclusive, and more trustworthy. Building upon the success of policy implementation achieved in the past year, Chairman Lee said that the FSC will continue to work to bring about improvements to make the financial industry function as a key bedrock for propelling economic growth in Korea.
FSC Chairman presides over townhall conference on inclusive financeJun 17, 2026

Chairman Lee Eog-weon of the Financial Services Commission presided over a townhall conference on inclusive finance on June 17. This townhall conference was organized to seek more lasting and structural shifts in the ways that the government and related organizations pursue inclusive finance policies. In this regard, Chairman Lee spoke about the significance of this townhall conference as the government seeks to overhaul the financial system to redesign and make financial services more inclusive for financially vulnerable and underserved groups. Through this effort, Chairman Lee said that there will be more accurate information and assessment about personal credit data, more prompt provision of debt workout services, and lower costs for financing made available for financially vulnerable groups, which will ultimately help to build a rigorous stepping stone from policy-based microfinance programs to mainstream finance.
Vice Chairman presides over consultative body meeting on financial educationJun 16, 2026

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over this year's first consultative body meeting on financial education attended by officials from related government ministries and organizations on June 16. At today's meeting, officials discussed measures for strengthening financial education in the areas of capital market and financial investment with aims to boost public financial understanding and help investors make better investment decisions. In this regard, Vice Chairman Kwon spoke about the importance of providing financial education programs that can help investors learn about different levels and types of risks attached to different types of investment products as there are growing numbers of retail investors participating and making investments in the capital markets.
Vice Chairman holds meeting on seeking improvements to personal credit data consent systemJun 16, 2026

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over the kickoff meeting of an advisory group for seeking improvements to the personal credit data consent system on June 16. At the meeting, Vice Chairman Kwon spoke about the need to upgrade the personal credit data consent system in Korea as it has remained largely unchanged since its adoption in 1995. In this regard, Vice Chairman Kwon said that in an era of AI transformation, the personal credit data consent rules have been put to use too strictly often at a detriment to the protection of financial consumers' data consent right in practice. Thus, Vice Chairman Kwon urged the members of the advisory group to seek practical solutions to make improvements in ways that can ensure the protection of consumer rights and the safety of data use, while also creating value in terms of inclusive and productive finance.
FSC Chairman meets with Lady Mayor of the City of LondonJun 15, 2026

Chairman Lee Eog-weon of the Financial Services Commission met with Dame Susan Langley, the Lady Mayor of the City of London at his office in Seoul Government Complex on June 15 and held talks on strengthening financial cooperation between Korea and the U.K. During the meeting, FSC Chairman Lee and Lady Mayor Langley held talks on climate finance and green transformation and ways to expand bilateral financial coopration in these areas. Both leaders also reaffirmed strong commitment to bilateral cooperation in ensuring stability in the financial system and promoting innovation in the financial industry and agreed to support the overseas expansion of financial companies between the two countries.
FSC Chairman holds meeting with public participatory growth fund operatorsJun 12, 2026

Chairman Lee Eog-weon of the Financial Services Commission had a meeting with the fund management companies overseeing the operation of the public participatory National Growth Fund on June 12 and had discussions on ways to ensure responsible management and offer incentives to boost performance. At the meeting, Chairman Lee also announced a plan to make available a second batch of public participatory growth funds worth about KRW600 billion in the third quarter of this year, taking into account significant interestand demand shown by investors.
FSC Chairman and policy financial institutions visit Daejeon and meet local enterprisesJun 11, 2026

Chairman Lee Eog-weon of the Financial Services Commission visited Daejeon with officials from six policy financial institutions on June 11 and held talks on the supply of regional finance with local businesses. During the meeting, Chairman Lee discussed the importance of supplying more policy finance to promote a regionally well-balanced growth and said that policy financial institutions plan to boost the supply of regional finance to KRW164 trillion a year by 2028, an increase of KRW34 trillion from the level supplied in the previous year. In this regard, Chairman Lee said that authorities are continuing to work on ways to lower borrowing costs and increase maximum loan limits available for individual businesses. While in Daejeon, Chairman Lee also visited KAIST robotics club Microrobot Research (MR) and held talks with students on the latest developments in the field of physical AI and the availability of financial support program for high-tech sectors.
FSC Chairman meets with financial holding companies to discuss cyber defense capacity in AI transformationJun 10, 2026

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with the CEOs of five major financial holding companies on June 10 and discussed ways to effectively respond to cybersecurity threats and voice phishing (vishing) attacks in an era of AI transformation (AX). At the meeting, Chairman Lee and the heads of financial holding companies discussed the risk of cybersecurity threats posed by frontier AI and deepfake vishing scams and ways to effectively respond to these newly emerging digital threats to help propel AI transformation in the financial industry. In his opening remarks, Chairman Lee outlined some of the key policy measures introduced by the government to ramp up financial companies' cyber defense capacity against AI threats, including the easing of the network separation rule, and urged financial holding companies to take bold steps to set successful precedents in pursuing AI transformation. In addition, Chairman Lee said that financial holding companies should make active efforts and continuous investments to make sure that their own subsidiary companies are all equipped with an adequate level of AI cybersecurity capacity.
FSC Chairman attends seminar on stewadship code and delivers congratulatory remarksJun 08, 2026

Chairman Lee Eog-weon of the Financial Services Commission delivered congratulatory remarks at a public seminar held on seeking improvements to the stewardship code on June 8. In his speech, Chairman Lee spoke about the need to upgrade the stewardship code as there are now higher standards and enhanced roles expected from institutional investors. In this regard, Chairman Lee said that authorities are working to revise the Korean stewardship code to bolster institutional investors' fiduciary duties for environmental, social, and governance factors and to strengthen measures to more systematically and transparently check institutional investors' compliance with the stewardship code.
FSC Chairman presides over meeting on inclusive financeMay 28, 2026

Chairman Lee Eog-weon of the Financial Services Commission presided over the fifth meeting on propelling a transition to inclusive finance with officials from related public organizations, financial companies, industry groups, and related experts on May 28. At the meeting, participants discussed plans to establish a taskforce on inclusive finance strategies and make debt collection businesses subject to an authorization for operating their businesses. In this regard, Chairman Lee said that the newly established taskforce on inclusive finance strategies will delve deeper into finding solutions to make more effective financial support programs available for vulnerable groups and help to draw up policies and programs in close communication with the financially underserved groups.
Vice Chairman presides over consultative body meeting on voice phishing preventionMay 28, 2026

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over the first consultative body meeting on voice phishing prevention with officials from related organizations, financial industry groups, and the banking sector on May 28. At the meeting, participants discussed ways to more effectively identify and prevent newly emerging types of phishing scams, step up efforts to strengthen protection for victims, and enhance inter-agency cooperation and collaboration on anti-phishing efforts. In his remarks, Vice Chairman Kwon spoke about the advancement of AI technology and the spreading adoption of AI in phishing scams and the need to more flexibly and widely share relevant information and maintain close cooperation among related agencies.