85% of staff consider quitting if FSS 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 Financial Supervisory Service (FSS) is contemplating moving its operations outside Seoul, prompting fears of a surge in staff turnover, according to industry insiders. The FSS is among several financial institutions being eyed for relocation to Sejong, South Korea's administrative center, as part of President Lee Jae Myung's initiative to disperse government agencies beyond the Seoul region and alleviate the country's heavy concentration around the capital.
The Cabinet is anticipated to commence deliberations on the relocation scheme as early as next week. According to FSS records, 481 employees left the agency between 2022 and July 2026, with over 100 departures annually. So far this year, 54 staff members have already exited. The younger workforce has witnessed a growing share of departures, with employees aged 20s, 30s, and 40s accounting for 180, or 37.4 percent, of the total.
They constituted half of those who left this year. As staff exodus continues unabated, the prospect of relocation has intensified apprehensions that the FSS could lose even more seasoned professionals.
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- 85% of staff consider quitting if FSS moves out of Seoul koreatimes.co.kr
