It has been learned that the labor union of the Financial Supervisory Service is considering joining higher-level bodies such as the Federation of Korean Trade Unions and the Korean Confederation of Trade Unions. As the government is pushing to transfer public institutions located in the capital area to regions, the FSS union opposes the transfer, citing financial consumer harm and work inefficiency. The FSS union is said to be considering joining a higher-level organization as one of the ways to strengthen its response to the transfer.

According to the financial industry on the 20th, the FSS union leadership recently mentioned joining a higher-level organization as one of the options to respond to the possibility of a regional transfer. The FSS currently operates as an independent union without an umbrella organization.

In September last year, union members and employees of the Financial Supervisory Service hold a rally in front of the National Assembly in Yeouido, Yeongdeungpo-gu, Seoul, opposing the separation of the FSS Financial Consumer Protection Bureau and the designation of the Financial Supervisory Service as a public institution./Courtesy of News1

The FSS withdrew in 2022 from the Korean Confederation of Trade Unions' National Office and Financial Services Workers' Union after eight years of membership. From the FSS's standpoint of having to manage and supervise financial companies, it left to secure independence due to concerns about conflicts of interest with supervised entities. However, as the possibility of a Sejong transfer has been repeatedly raised recently and tension within the organization has risen, it is reportedly considering rejoining a higher-level body.

Joining a higher-level union would diversify response options. If the FSS union responds on its own, it is difficult to meet directly with the Ministry of Land, Infrastructure and Transport, which oversees the regional transfer, to hold discussions, but joining a higher-level body increases the likelihood of face-to-face consultations. In fact, over the past several months, the ministry has held multiple rounds of discussions on the regional transfer with the Federation of Korean Trade Unions' finance union and the Korean Confederation of Trade Unions' office and finance union. In addition, it could launch joint actions such as rallies with other unions affiliated with the higher-level body.

This week, the FSS union asked management, including FSS Governor Lee Chan-jin, for a joint response related to the regional transfer, but reportedly did not receive a definitive answer. Management is said to have conveyed that it would be difficult to begin consultations with related ministries such as the Ministry of Land, Infrastructure and Transport until the government officially confirms the FSS's regional transfer.

An FSS union official said, "To actually join, we need to gather opinions through a general meeting of union members. We have not yet begun concrete preparations for joining, and discussions are taking place only at the leadership level in response to suggestions from some union members."

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