FSS chief stresses consumer-oriented supervision

▲ This undated file photo shows Lee Chan-jin, governor of the Financial Supervisory Service. (Yonhap)

watchdog chief-consumer protection

FSS chief stresses consumer-oriented supervision

SEOUL, March 25 (Yonhap) -- The head of the country's financial watchdog vowed Wednesday to put his agency's priority on better protecting financial consumers in the face of the recent economic and financial turmoil caused by geopolitical tensions in the Middle East.

In his opening remarks for the FSS SPEAKS 2026, an annual forum aimed at enhancing communication with foreign financial firms, Lee Chan-jin, governor of the Financial Supervisory Service (FSS), also stressed the need to further develop and promote the local financial market, making it work in tune with the global standards.

"To ensure finance plays its role without fail even under these circumstances, we need to focus on winning trust, on which finance is built. And earning trust starts with the protection of financial consumers," he said.

"That is why the FSS set consumer protection as our core value for this year as we carry out financial supervision and examinations," he added.

The forum was attended by some 230 officials and executives from foreign embassies and financial firms, including the ambassadors from China and India.

Lee said in order to maintain financial stability, his agency plans to respond to potential risks preemptively through constant monitoring and revamp its regulatory frame to better counter key risks of each sector.

The FSS chief also said the agency will make efforts to attract more foreign capital, while diversifying financial products to meet different needs of domestic investors.

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