The Financial Services Commission (FSC), formerly Financial Supervisory Commission, is

South Korean government The Government of South Korea is the union government of the Republic of Korea, created by the Constitution of South Korea as the executive, legislative and judicial authority of the republic. The president acts as the head of state and is the ...

's top financial regulator. It makes financial policies, and directs the Financial Supervisory Service. The Financial Supervisory Commission was established in 1998. With the start of Lee Myung-bak administration, the Commission was rearranged into the Financial Services Commission; the new one took over the policy-making authority from the

Finance Ministry A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", " ...

. As part of social responsibility, in 2014 the FSC Chairman Shin Je-yoo made plans to regulate the degree of innovativeness of banks requiring them to make the public the wages employees and executives in comparison to overall profit. This part of measured to encourage financial banks to create more value and jobs with an innovative management. It will see whether the banks are financing enough promising tech firms for going conservative practices and filling their social responsibility.

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See also