The nominee for chairman of the Financial Services Commission, Lee Eok-won, attends the confirmation hearing at the National Policy Committee held at the National Assembly in Yeouido, Seoul on the 2nd, responding to questions from lawmakers. /Courtesy of News1

The Financial Services Commission chairman nominee, Lee Eok-yeon, stated on the 2nd, "Financial supervision policies and financial policies are absolutely under the jurisdiction of the chairman of the Financial Services Commission."

During a personnel hearing held by the National Policy Committee in the National Assembly that day, the nominee responded to a question from Lee Yang-soo, a member of the People Power Party, who asked, "With the influential Lee Chan-jin, the FSS chief, moving forward with the liberation efforts, is the Financial Services Commission chairman taking over those duties?" The nominee remarked, "The FSS chief is responsible for the execution of financial supervision."

Since taking office last month, the FSS chief has been continuing relay meetings with various sectors, including banks, insurance, and the second-tier financial sector. On the 28th of last month, he met with bank heads and criticized practices like "interest profiteering."

In response to a question about whether the actions of the FSS chief were wrong, the nominee said, "I think this part needs to be looked at a bit more," adding, "With that principle, we are one team and an institution that works together."

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