Remarks by the National Assembly Planning and Finance Committee… Big Brother Controversy
(Seoul = Yonhap News) Reporter Jin Seong-cheol = Bank of Korea governor Lee Joo-yeol answers inquiries at the general meeting of the Planning and Finance Committee held at the National Assembly on the 23rd. 2021.2.23 [email protected]
(Seoul = Yonhap News) Reporter Seong Seo-ho = Bank of Korea governor Lee Joo-yeol re-emphasized on the 23rd that “The revised bill of the Electronic Financial Transactions Act (the Electric Money Act) is the Big Brother (Social Monitoring and Control Power) Act.”
This is a refutation of the remarks that Eun Seong-soo, chairman of the Financial Services Commission, said this amendment was not a big brother.
At the general meeting of the National Assembly’s Planning and Finance Committee that day, Governor Lee answered questions about payment and settlement from Rep. Park Hyung-soo and Justice Party Rep. Jang Hye-young.
Governor Lee said, “The fact that the information was forcibly gathered together is a big brother,” he said. “I take a telecommunications company as an example where the money law is not a big brother, but this comparison is inappropriate.”
Earlier on this month, on the 19th, Director Eun dismissed, “Can I call the mobile operator Big Brother because my phone call records remain on the mobile operator?” and dismissed “(Han Eun’s point of Big Brother) that it makes no sense.”
The BOK said that there is a problem with the contents of the amendment that the Financial Services Commission can look into, and all personal charging and transaction details through payment and payment methods of big tech (big information communication companies) such as Naver Pay and Kakao Pay are collected in one place. When this pointed out, it was countered.
However, on this day, President Lee emphasized, “It is true that the news agency cannot be viewed as a big brother, but if you can gather information from multiple news agencies and look into it, that is the case.”
He also asserted that the Financial Commission’s claim that the purpose of the amendment to the Monetary Act is to protect consumers, he said, “collecting and managing financial payments has nothing to do with consumer protection,” and “there is still a consumer protection device.”
Governor Lee said, “The main function of the KFTC is to liquidate the micropayment system and loan transactions of funds exchanged between financial institutions, and the central bank has no choice but to support this liquidation. It is very important to properly understand and understand it, but I think it was a little lacking,” he criticized.
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2021/02/23 13:00 sent