FSC standing commissioner attends FSB's Standing Committee on Regulatory and Supervisory Cooperation in Washington

Financial Services Commission Standing Commissioner Ahn Chang-kook delivers congratulatory remarks at the opening ceremony of Herald Money Festa 2026, held at Dongdaemun Design Plaza in Jung-gu, Seoul, on Oct. 2. [Herald DB]
Financial Services Commission Standing Commissioner Ahn Chang-kook delivers congratulatory remarks at the opening ceremony of Herald Money Festa 2026, held at Dongdaemun Design Plaza in Jung-gu, Seoul, on Oct. 2. [Herald DB]

Financial Services Commission Standing Commissioner Ahn Chang-kook attended a Financial Stability Board meeting to discuss how AI can be applied to financial supervisory work, including the detection of anomalies.

According to the FSC, Ahn attended the FSB's Standing Committee on Regulatory and Supervisory Cooperation, known as the SRC, in Washington on Thursday (local time). The FSB is an international body that promotes financial regulatory reform to strengthen global financial system stability; it grew out of the Financial Stability Forum, which was established with the G7 nations as its core members.

The SRC focuses on analyzing key vulnerabilities to financial stability and developing supervisory policy responses.

At the meeting, participants discussed the governance frameworks and potential risks involved in using AI for financial supervisory work. Ahn said deploying AI for early detection of anomalies and risk monitoring could improve the efficiency and timeliness of supervision.

He went on to say that "Korea has built a system that uses AI in virtual asset market surveillance to detect abnormal trading such as market manipulation, and automates the entire process from trade analysis to the preparation of outcome reports."

Ahn also said South Korea is working to introduce AI into complaint and dispute-handling operations, with the aim of improving consumer protection by automating complaint classification and recommending relevant dispute cases and legal precedents.

However, discussions on AI-related cybersecurity threats — a topic that has drawn considerable attention recently — were not on the agenda.

The meeting also took up risk management in private credit markets. The FSB noted that private credit has grown rapidly as a source of corporate financing that complements bank lending and corporate bond issuance, and warned that its deepening ties — direct and indirect — with banks, insurers, private equity funds and other financial institutions mean that shocks in the private credit market could spread across the broader financial system. Improvements to external audit quality were also discussed.

Ahn also attended the KOOM Week 2026 financial leadership forum in New York, held Monday and Tuesday. The event, organized by the Korean American Entrepreneurs Association, supports networking between investors and startup founders. In his opening remarks, Ahn said public-private cooperation is essential to help domestic startups take on global markets.


hyuk@heraldcorp.com