Financial Supervisory Service  
The FSS was officially established under the Act on the Establishment of Financial Supervisory Organizations on 2 January, 1999, as a special corporation with no capital. The FSS was created by integrating the four previously existing supervisory bodies-the Banking Supervisory Authority, Securities Supervisory Board, Insurance Supervisory Board and Non-bank Supervisory Authority -into a single, consolidated organization. The major functions of the FSS include the supervision, examination, investigation of and enforcement on financial institutions as well as other matters delegated by the Financial Supervisory Commission (FSC) and the Securities and Futures Commission(SFC).


The FSS is the executive arm of the FSC and the SFC, and currently boasts a total staff of 1,654 persons (as of Dec. 2004) working in 26 departments and 2 offices. And to maximize the effectiveness of our supervisory role and promote integration of supervisory functions and responsibilities, the departments and offices of the FSS are divided into six functional areas: Supervisory Support & General Affairs, Supervision of Financial Companies, Examination of Financial Companies, Consumer Protection, Examination & Enforcement of Unfair Financial Transactions, Accounting System & Audit Review.