Seoul Yeouido Financial Supervisory Service. yunhap news
The Financial Supervisory Service, which was interested in whether to redesignate it as a public institution, remained as a private organization.
The Ministry of Strategy and Finance held the Public Institution Steering Committee on the 29th and deliberated and resolved the ‘2021 Designation of Public Institutions’. The number of public institutions increased from 340 last year to 350. Twelve new locations, including the Korea Institute of Construction Technology Education, Korea Institute of Employment and Labor, and Korea Expressway Corporation, were newly designated, and two of the Korea Smart Grid Project Group and Korea Construction Management Corporation were lifted.
The biggest concern of the Gongwoon Committee was the FSS. The Financial Supervisory Service was designated as a public institution in 2007, but was lifted in 2009 for the purpose of ensuring the independence and autonomy of financial market supervision. However, after the auditor pointed out the FSS’s negligent management and hiring corruption issues in 2017, they were not free from the designation issue every year.
In 2018, the Ministry of Science and Technology reserved the designation of a public institution by the Financial Supervisory Service by the Public Transportation Commission, and made four reservation conditions: ▶Eradication of hiring corruption ▶Management disclosure at the level of public institutions ▶Strict management evaluation ▶Resolving inefficient organizational operation. In particular, last year’s Lime-Optimus private equity crisis raised the issue of responsibility for insolvent supervision, and recently, controversy over’dispatching’ raised voices that a public institution should be redesignated.
However, the Ministry of Information and Transportation did not designate the Financial Supervisory Service as a public institution even at this time. As a condition of reservation ▶Increase the proportion of evaluation metrics (from 30% to 40%) ▶Return incentives when fraudulent behavior is confirmed ▶Substantiate customer satisfaction surveys at the level of public institutions and conduct annually, reflecting management evaluation ▶Additional reduction of senior positions, maintenance of overseas office I hung my back.
“As a result of checking the current status of the FSS’s implementation of the existing reservation conditions, it has been confirmed that it is generally being implemented.” However, taking into account the recent cases of poor supervision and independence in the execution of financial supervision comprehensively (designated as a public institution) We have decided to impose tougher conditions.”
If designated as a public institution, it must be supervised by the government for personnel expenses, management evaluation, management guidelines, management disclosures, and customer satisfaction surveys. The Minister of Equipment and Materials may request the dismissal of the head of the agency.
Sejong = Reporter Kihwan Kim [email protected]