Dae-Hyun Kim, Executive Director… Resignation
Bank Federation also chairman and executive from the Financial Services Commission
Chairman of the Credit Association, Executive Director of the Life Insurance Association from the Financial Services Commission
A bird that does not intervene in the Blue House
The polarity of the Financial Services Commission’s’Taking Family’
Public officials from the Financial Services Commission are parachuting to the executives of major financial associations such as the Bank Federation and Non-life Insurance Association, raising concerns about the collusion between the Financial Services Commission and the financial industry. Hankyoreh material photo
Public officials from the Financial Services Commission have taken up a large number of executive positions in major financial associations with strong characteristics as a lobbying organization in the industry, and voices of criticism are emerging from the financial sector. In particular, the positions of high-ranking FSC chairpersons at the end of last year were occupied by high-ranking FSC chairpersons, and in the new year, the FSC supervisory ranks are mentioned as the executive director who is the number two of some associations. Comes out. Summarizing the words of the financial sector on the 11th, Dae-Hyun Kim, the auditor at the level of the Financial Services Commission, is being discussed as executive director of the Non-life Insurance Association. Kim has already resigned from the Financial Services Commission. When Kim becomes the managing director of the Non-life Insurance Association, both the chairman and executive director of the Non-life Insurance Association will be from the Financial Services Commission. At the end of last year, Jung Ji-won, chairman of the Korea Exchange, was elected as chairman. Chairman Chung has served as the head of the Financial Services Bureau of the Financial Services Commission and a standing member (Level 1).
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In December of last year, former Nonghyup Financial Group Chairman Kim Kwang-soo was already elected as chairman of the Banking Federation, and members of the Financial Services Commission took the positions of the first and second leaders. Earlier, Lee Ho-hyung, CEO of IBK, was appointed as the executive director of the Bank Federation. Chairman Kim is a former financial bureaucrat who has served as the head of the Financial Services Bureau of the Financial Services Commission and the Director of the Financial Information Analysis Institute (Level 1). The Credit Finance Association and Life Insurance Association each have their chairman and executive director from the Financial Services Commission. Kim Joo-hyun, chairman of the Credit Finance Association, served as the head of the Financial Policy Bureau and secretary general (Level 1), and the Life Insurance Association executive director Kim Je-dong served as the Financial Public Data Officer (manager level). An official from the financial sector who requested anonymity said, “It is an unusual situation for public officials from the Financial Services Commission to take over the positions of the association’s first and second leaders.” This behavior of the Financial Services Commission has been particularly noticeable since the end of last year. Officials of financial associations go through the association’s executive recommendation committee in form, but in reality, it is known that a lot of the breath of high-ranking financial supervisors works. Some interpret it as the fact that the Blue House actually did not intervene in personnel affairs with private organizations, and the Financial Services Commission blatantly began to take care of the family. In the first half of the current administration, the Financial Services Commission seemed to notice the Blue House, but from the end of last year, it has not even done that. Another official from the financial sector pointed out that “In the past (the Blue House) controlled this part, but now it is not working properly,” he said. “With such a gap, the FSC officials are pursuing their own interests.” This behavior can be good from the perspective of the FSC officials by taking’a seat’, and the association’s side with the government’connecting’ with the government, which is an advantage,’a good sister and a good wife’. The problem is that the damage can be attributed to financial consumers. The Financial Services Commission is an organization that pursues two major goals: fostering the financial industry and establishing financial supervisory policies, and when it comes into contact with financial associations, it is more likely to focus on fostering the financial industry rather than financial supervision. For example, if you emphasize fostering related industries when setting up a private equity policy, supervision becomes loose, resulting in consumer damage. In the wake of the Sewol ferry disaster in 2014, the head of a financial association was filled with people from private sectors as negative public opinion about’gwanpia’ (a compound word for bureaucracy + mafia) boiled. However, after their term of office expires, the vacant place is occupied by Gwanpia again. By Park Hyun, staff reporter [email protected]