About FSC

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  • The FSC consists of nine commissioners: Chairman, Vice Chairman and Commissioners including four ex-officio positions held by the Vice Minister of the Ministry of Strategy and Finance, the Governor of the Financial Supervisory Service, the Deputy Governor of the Bank of Korea, and the President of the Korea Deposit Insurance Corporation.
    The FSC deliberates and decides on financial policy matters relating to the inspection and supervision of financial institutions and the securities and futures markets. Matters relating to the securities and futures markets are largely delegated to the SFC. The FSC also has the authority to issue and revoke licenses from financial institutions. Legislation relating to the financial sector is drafted and submitted to the National Assembly by the FSC.
    The SFC is a sub-commission within the FSC, responsible for the oversight of the securities and futures markets. It consists of five members including the Chairman of the SFC. The Vice Chairman of the FSC concurrently holds the chairmanship of the SFC. The principal role of the SFC is to investigate market abuses in the securities and futures markets and establish accounting standards and audit reviews. It also conducts advance review of matters relating to the securities and futures markets to be deliberated by the FSC.