FSC's relocation to Sejong stirs unease across financial industry
The Financial Services Commission’s (FSC) planned relocation to the administrative city of Sejong next year is raising concerns across the financial industry about potential disruptions to communication with regulators and the resulting operational inefficiencies, industry officials said Thursday. Industry officials are particularly concerned that the move could make it harder for banks and…
The Financial Services Commission (FSC) is set to relocate to Sejong next year, causing unease among financial industry officials. The move, which will take place in the second half of 2027, is part of a government plan to decentralize functions from Seoul to Sejong, a city about 110 kilometers south. Industry officials are worried that the relocation could disrupt communication between banks and the financial regulator, potentially leading to operational inefficiencies.
With most banks headquartered in Seoul, staff may need to rely more heavily on remote communication as they adapt to the new location.
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.
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