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.
The Financial Supervisory Commission was established in 1998. With the start of
Lee Myung-bak
Lee Myung-bak (; born 19 December 1941), often referred to by his initials MB, is a South Korean businessman and politician who served as the tenth president of South Korea from 2008 to 2013. Before his presidency, he was the CEO of Hyundai Engi ...
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.
See also
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Korea Financial Investment Association
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Financial Supervisory Service
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Bank of Korea
The Bank of Korea (BOK; ) is the central bank of South Korea and issuer of South Korean won. It was established on 12 June 1950 in Seoul, South Korea.
The bank's primary purpose is price stability. For that, the bank inflation targeting, targ ...
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List of financial regulatory authorities by jurisdiction
References
External links
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Financial services companies established in 2008
Korea, South
Government agencies of South Korea
Financial Services Commission