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Financial Supervisory Service (FSS)
 
 
Overview: 

The Financial Supervisory Service was established on January 2, 1999, under the Act on the Establishment of Financial Supervisory Organizations by bringing together four supervisory bodies-Banking Supervisory Authority, Securities Supervisory Board, Insurance Supervisory Board, and Non-bank Supervisory Authority-into a single supervisory organization. The primary function of the FSS is examination and supervision of financial institutions but can extend to other oversight and enforcement functions as charged by the Financial Services Commission (the former Financial Supervisory Commission) and the Securities and Futures Commission.

The FSS is headed by the Governor and organized along 25 departments and 16 offices that are divided among nine principal divisions: (1) strategic planning, (2) management support and consumer protection, (3) supervisory service coordination, (4) banking service, (5) non-banking service, (6) insurance service, (7) financial investment service, (8) capital market investigation, and (9) accounting service. The Internal Audit Office is responsible for the internal audit of the FSS.


 
 
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