Shift to Digital Processes to Enhance Market Stability and Proactive Risk Response Lee Bok-hyun, governor of the Financial Supervisory Service, speaks at the "Financial Supervision Digital Transformation Launch Ceremony" held at the FSS auditorium on the 2nd floor in Yeouido, Seoul, on March 17. (Photo courtesy of FSS) The Financial Supervisory Service (FSS) will pursue digital transformation over the next three years to enhance the quality of financial supervisory services. This reflects Governor Lee Bok-hyun’s determination that the traditional manpower-dependent approach has limitations in responding to the changing environment and risks. On March 17, the FSS held the "Financial Supervision Digital Transformation Launch Ceremony" and announced that it would pursue the digital transformation project from this year until 2027. Governor Lee emphasized the necessity of digital transformation, stating, "In the era of digital transformation, the FSS must proactively understand the financial industry and market, systematically respond to risks, and actively lead change and innovation." The key directions of the digital transformation include four main areas: the establishment of a data-driven financial supervisory system, the digitalization of financial supervisory work processes, the creation of a smart workplace, and the expansion of access to financial supervisory information. Firstly, the FSS plans […]
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