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The Financial Services Commission (FSC), formerly Financial Supervisory Commission, is South Korean government's top financial regulator. It makes financial policies, and directs the Financial Supervisory Service.
| 금융위원회 金融委員會 Geumnyung Wiwonhoe | |
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 FSC headquarters in Government Complex Seoul of Jongno District | |
| Agency overview | |
|---|---|
| Formed |
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| Preceding agency |
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| Jurisdiction | Government of South Korea |
| Headquarters | Seoul, South Korea |
| Agency executives |
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| Parent agency | Office of Prime Minister of South Korea |
| Child agency | |
| Website | fsc.go.kr/eng |
| Financial Services Commission | |
| Hangul | 금융위원회 |
|---|---|
| Hanja | 金融委員會 |
| Revised Romanization | Geumnyung Wiwonhoe |
| McCune–Reischauer | Kŭmnyung Wiwŏnhoe |
The Financial Supervisory Commission was established in 1998. With the start of Lee Myung-bak administration, the Commission was rearranged into the Financial Services Commission; the new one took over the policy-making authority from the Finance Ministry.
As part of social responsibility, in 2014 the FSC Chairman Shin Je-yoo made plans to regulate the degree of innovativeness of banks requiring them to make the public the wages employees and executives in comparison to overall profit.
This part of measured to encourage financial banks to create more value and jobs with an innovative management. It will see whether the banks are financing enough promising tech firms for going conservative practices and filling their social responsibility.[1]
See also
editReferences
edit- ^ Yoon, Ja-Young (2014-11-01). "Regulator to evaluate innovative efforts of bank - The Korea Time". Retrieved 2020-06-06 – via PressReader.