Former deputy governor lectures on strengthening financial consumer protection supervision

Bank aims to embed consumer-first culture across all stages of product development and sales

Busan Bank holds a financial consumer protection lecture for employees at its headquarters on Friday, with former Financial Supervisory Service Deputy Governor Kim Mi-young as the guest speaker. [Busan Bank]
Busan Bank holds a financial consumer protection lecture for employees at its headquarters on Friday, with former Financial Supervisory Service Deputy Governor Kim Mi-young as the guest speaker. [Busan Bank]

Busan Bank said Monday it hosted a financial consumer protection lecture for employees at its headquarters on Friday, inviting former Financial Supervisory Service Deputy Governor Kim Mi-young as the guest speaker. The lecture was designed to deepen staff understanding of consumer protection supervision policy and changes in the financial environment, and to further spread a consumer-centered financial culture.

Speaking on the theme of "Strengthening Financial Consumer Protection Supervision and Response Challenges," Kim outlined the policy direction for financial consumer protection, reviewed the current state of consumer protection governance at financial firms and highlighted best practices, and said management has a key role and responsibility in embedding consumer protection as part of organizational culture.

Kim said financial consumer protection must go beyond simple regulatory compliance or after-the-fact complaint handling. "It must be practiced throughout the entire financial service process — from product planning and development to sales and after-sales management," she said. "To that end, organic cooperation across all departments and a prevention-focused consumer protection framework are essential."

Busan Bank said it plans to use the lecture as an opportunity to raise employee awareness of financial consumer protection, while continuing to strengthen consumer-centered management that puts customer rights first.


kaf2002@heraldcorp.com