Financial Services Commission (South Korea)

{{Short description|South Korean executive ministry for financial regulation}}{{Distinguish|Financial Supervisory Service}}{{Expand Korean|topic=gov|date=March 2013}}

{{Infobox government agency

| agency_name = Financial Services Commission

| nativename_a = 금융위원회
金融委員會

| nativename_r = Geumnyung Wiwonhoe

| logo = Emblem of the Financial Services Commission (English) (horizontal).svg

| image = Government Complex Seoul Main Building.jpg

| image_caption = FSC headquarters in Government Complex Seoul of Jongno District

| formed = {{ubl|{{start date and age|df=y|1998|4}}
(as Financial Supervisory Commission)|{{start date and age|df=y|2008|3|3}}
(as Financial Services Commission)}}

| preceding1 = Financial Supervisory Commission

| jurisdiction = Government of South Korea

| headquarters = Seoul, South Korea

| employees =

| budget =

| chief1_name = Kim Joo-hyun

| chief1_position = Chairman

| chief2_name = Kim So-young

| chief2_position = Vice Chairman

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| chief6_name =

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| parent_department =

| parent_agency = Office of Prime Minister of South Korea

| child1_agency = Financial Supervisory Service

| website = [http://www.fsc.go.kr/eng fsc.go.kr/eng]

}}

{{Infobox Korean name

|title=Financial Services Commission

|hangul= 금융위원회

|hanja= 金融委員會

|rr= Geumnyung Wiwonhoe

|mr= Kŭmnyung Wiwŏnhoe

}}

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 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.{{Cite web|last=Yoon|first=Ja-Young|date=2014-11-01|title=Regulator to evaluate innovative efforts of bank - The Korea Time|url=https://www.pressreader.com/korea-republic/the-korea-times/20141101/textview|access-date=2020-06-06|via=PressReader}}

See also

References

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