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[Alpha Biz=(Chicago) Reporter Kim Jisun] Lee Bok-hyun, head of the Financial Supervisory Service, warned of strict control over internal employees' ethical awareness.
During a parliamentary audit of the National Policy Committee at the Financial Supervisory Service in Yeouido, Seoul, on the 17th, Director Lee said, "We suggested that the supervision and inspection of financial firms employed by former FSS employees should be conducted strictly, and we will include them in the inspection process in the future," adding, "We will prevent them from meeting with large law firms outside the office, and if it is violated, we will take disciplinary action."
According to the "employment screening status of the Public Service Ethics Committee for FSS retirees" submitted by the Financial Supervisory Service to the National Policy Committee, 106 people received job approval and confirmation (excluding restriction, suspension, and disapproval) in the past three years from 2021 to August 2023.
Over the past three years, many large law firms, including Kim & Chang, Gwangjang and Yulchon, have been re-employed by FSS retirees.
There are a total of 31 people, 10 of whom have been re-employed at Kim & Chang. It was followed by eight squares, five Yulchon, four Sejongs, two Hwawoo, one Pacific and one democracy
The number of FSS employees to law firms has increased sharply since 2020. Analysts say it is because financial regulation-related issues have emerged as the firm's business area after the massive suspension of redemption of private equity funds such as Lime and Optimus.
In addition, 13 Financial Supervisory Service employees headed to associations, research institutes, and training institutes such as the Korea Financial Investment Association, the Korea Institute of Finance, the Korea Credit Association, and the Korea Insurance Research Institute. It is the second largest number after the law firm.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
