South Korea
The FSS - Securities and Insurance
The Financial Supervisory Commission regulates Securities and Insurance in South Korea.
The Financial Supervisory Commission- FSS was officially established under the Act on the Establishment of Financial Supervisory Organizations on January 2, 1999. The FSS was created by integrating the four previously existing supervisory bodies into a single, consolidated organization. Consolidation included the:
Banking Supervisory Authority
Securities Supervisory Board
Insurance Supervisory Board
Non-bank Supervisory Authority
The major functions of the FSS include the supervision, examination, investigation of and enforcement on financial institutions as well as other matters delegated by the Financial Supervisory Commission (FSC) (In English) and the Securities and Futures Commission (SFC). Namely, Supervisory Support & General Affairs and Supervision of Financial Companies.
Securities Supervision Team
Management Guidance Team
Manages matters relating to internal controls and risk management of securities companies
Conducts planning and analyses of the management status of securities companies
Develops and manages early warning systems for securities companies
Securities Business Team
Manages matters relating to authorization and operation of securities companies
Responsible for the regulation of domestic securities companies (including the domestic branches of foreign securities companies
Futures Business Supervision Team
Manages matters relating to the authorization of Futures Company
Supervises the overseas activities and prudential regulation of futures companies
Capital Market Supervision Team
Administrates matters relating to the KSE, KOSDAQ, and over-the-counter markets
Supervises securities-related institutions and monitors foreign investment trends
Insurance Supervision Department
Manages matters relating to prudential management, authorization and overall operation of insurance companies
Responsible for the planning and adoption of prompt corrective action standards and restructuring of insurance companies
Management Guidance Team
Sets and manages solvency margin ratio standards for insurance companies
Organization Business Supervision Team
Manages matters relating to insurance solicitation and actuarial businesses
Supervises the business practices and operation of domestic branches of foreign insurance companies
Manages matters relating to establishment of the overall policy for cross-border insurers
Supervises and provides guidance on the establishment of the overall policy for cross-border operations and advertisements
Special Insurance Team
Manages matters relating to the prudential management of auto-insurance, re-insurance, and fidelity & surety insurance
Sets and implements risk management and premium rate regulations
Insurance Actuary Office
Consumer Protection
Consumer Protection Center Phone: (+82-2) 3771-5690
Investigation Department Phone: (+82-2) 3771-5557
International Public Relations Team Phone: (+82-2) 3786-7912
Foreign Spokesperson Phone: (+82-2) 3786-7915
Contact Info: Yoido-Dong, Youngdeungpo-Gu,Seoul, 150-743, Korea
Tel : (+82-2) 3771-5114 Fax : (+82-2) 785-3475 Contact -HEAD OFFICE
Address 27 Yoido-Dong, Youngdeungpo-Gu, Seoul 150-743 Korea
Telephone Phone: (+82-2) 3771-5114
Helpful Resources at:
Korean Stock Exchanges
Associations