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…
Officials warn that moving the Financial Supervisory Service (FSS) out of Seoul could spark a wave of staff departures, already underway at the watchdog agency. The FSS is among several financial institutions being eyed for relocation to Sejong City, President Lee Jae Myung's initiative to decentralize government operations and alleviate the capital's chokehold on national institutions.
The Cabinet is set to kick off deliberations on the relocation scheme as early as next week. According to FSS data, 481 employees have departed between 2022 and July 2026, with over 100 leaving annually. So far this year, 54 staff members have already bid farewell. Younger personnel have increasingly been among the exits, with workers aged 20 to 40 accounting for 37.4 percent of the total.
They comprised half of the resignations this year alone. As the staff churn continues, the idea of relocation has intensified apprehensions that the FSS might lose even more seasoned professionals.
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- 85% of FSS staff consider quitting if watchdog moves out of Seoul koreatimes.co.kr
