85% of FSS staff consider quitting if watchdog moves out of Seoul
The prospect of relocating the Financial Supervisory Service (FSS) outside Seoul is raising fears that it could accelerate an exodus of staff that is already well underway, according to industry officials Sunday. The FSS is among the financial institutions being considered for relocation to Sejong, Korea’s administrative capital, as part of President Lee Jae Myung’s broader push to move…
The prospect of moving the Financial Supervisory Service (FSS) out of Seoul is causing alarm among staff, with 85% considering quitting, according to industry officials. The FSS could be among the financial institutions up for relocation to Sejong, the administrative capital, as President Lee Jae Myung aims to distribute government agencies across Korea and alleviate the capital's heavy concentration.
The Cabinet may start discussing the relocation initiative as early as next week. FSS data reveals that 481 employees departed between 2022 and July 2026, with over 100 leaving annually, and 54 employees leaving so far this year. Younger staff have been increasingly affected, with employees aged 20 to 40 comprising 37.4% of the departures, representing half of those who left this year.
As the staff exodus continues, the possibility of relocation has raised fears that the FSS may lose even more experienced professionals.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- 85% of FSS staff consider quitting if watchdog moves out of Seoul koreatimes.co.kr
