The Financial Supervisory Service (FSS) will conduct 738 inspections this year. The FSS plans to focus on inspecting the sale practices of high-risk products by financial companies and their internal control functions.
The FSS announced its inspection operation plan for 2025, which includes this content, on the 19th. The plan includes 29 regular inspections and 709 unscheduled inspections, totaling 738 inspections this year. The number of inspections has increased by 59 compared to the previous year. The number of personnel involved in this year's inspections is 25,155, a decrease of 942 compared to the previous year.
Regular inspections will target a total of 29 companies including 10 banks (including holding companies), 9 small and medium-sized financial companies, 2 financial investment companies, 7 insurance companies, and 1 electronic financial service provider. This will be the first regular inspection for the electronic financial service provider. The FSS typically conducts regular inspections of specific financial companies every 3 to 5 years.
Unscheduled inspections will include 81 inspections of banks, 93 inspections of small and medium-sized financial companies, 185 inspections of financial investment companies, and 138 inspections of insurance companies. Among these, 499 will be field inspections, and 210 will be document inspections.
The FSS has established the basic direction for this year's inspections as proactive response to potential risks and prompt response to current issues. Accordingly, it plans to focus on preventing financial accidents, enhancing soundness, and establishing market order.
First, the FSS will monitor the sale patterns of high-risk products and plans to inspect the entire process before and after the sale if any unusual issues are detected. It will also strengthen pre-inspections of high-risk branches and insurance sales agencies (GA). The culture of focusing on short-term results, which is identified as a cause of financial accidents, will also be a target of regulation.
Additionally, the FSS will closely examine compliance with regulations for financial companies regarding system failures and virtual asset service providers, in light of changes in the financial environment. Management of long-standing risk factors in the financial sector, such as real estate project financing (PF), will also be included.
Furthermore, the FSS stated that it would strictly deal with actions that infringe on consumer interests and those that cause consumer harm through transactions between affiliated companies.