Seeking stability
Jong-Goo Yi, commissioner at Korea’s Financial Services Commission, is unusual among Korean regulators as he has a PhD in economics from Stanford University and spent several years working as a lawyer on Wall Street. He speaks with Harry Thompson about South Korea’s efforts to improve risk management practices
Asia Risk: What are the main changes in regulation during the past few years that have brought forward the development of the South Korean market?
Jong-Goo Yi, commissioner, Financial Services Commission of South Korea: From an institutional design perspective, one of the biggest changes in Korea since the Asian Financial Crisis has been the move towards a consolidated supervisory system in which all financial institutions, including banks, insurance companies, securities companies and other
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