FSC's relocation to Sejong stirs unease across financial industry

The Financial Services Commission plans to relocate from Seoul to Sejong in the second half of 2027, raising concerns across the financial industry about slower regulatory communication and operational inefficiencies. Banks and securities firms headquartered in Seoul may rely more on remote channels, but officials said sensitive issues and emergencies could make video communication inadequate. The relocation is part of a plan to move 44 central government agencies and affiliated bodies to Sejong between 2027 and 2031.

The planned relocation would move the FSC about 110 kilometers south from Seoul to Sejong.

The government aims to relocate 44 central government agencies and affiliated bodies between 2027 and 2031 to decentralize functions and promote regional growth.

Recent suspected AI-assisted cyberattacks affecting more than a dozen financial institutions highlighted the need for rapid communication between banks and regulators.

The Financial Supervisory Service has not been included in the confirmed relocation plan, but the interior ministry said its move would be reviewed separately in the second phase of public institution relocations.

The Korea Financial Industry Union said relocating financial institutions for administrative convenience could undermine South Korea’s financial competitiveness.

Published Oct 15, 2026 3:14 pm KST

Banks express concerns over potential disruption in coordination with financial regulators

Employees are seen at the corridor of the Financial Services Commission at Government Complex Seoul, Sept. 9, 2025. Korea Times photo by Hong In-ki

The Financial Services Commission’s (FSC) planned relocation to the administrative city of Sejong next year is raising concerns across the financial industry about potential disruptions to communication with regulators and the resulting operational inefficiencies, industry officials said Thursday.

Industry officials are particularly concerned that the move could make it harder for banks and securities firms, most of which are headquartered in Seoul, to consult financial authorities on regulatory matters.

The country's top financial regulator, currently based in Seoul, plans to move to Sejong, about 110 kilometers to the south, in the second half of 2027. The move is part of a broader government plan to relocate 44 central government agencies and affiliated bodies from the Seoul metropolitan area to Sejong between 2027 and 2031, aiming to decentralize functions concentrated in the capital area and promote regional growth.

Banks are weighing how to adapt, with some expecting to rely more heavily on remote communication.

"We expect to establish ways to respond, including expanding the use of remote channels, to minimize any gaps in our operations," a Seoul-based commercial bank official said.

"We have yet to establish specific measures in response to the FSC's relocation, but we would consider adjusting our government relations practices if it causes operational inconvenience or delays in responding to pressing issues," another bank official said.

Beyond the time and expense of traveling to Sejong by KTX high-speed train, the bigger concern is whether banks will be able to coordinate with regulators as quickly during emergencies.

For instance, recent suspected artificial intelligence (AI)-assisted cyberattacks that affected more than a dozen financial institutions have underscored the need for swift communication between banks and regulators.

Remote communication has its limits, as some sensitive issues may be difficult to discuss over video calls due to security concerns, industry officials said.

Government buildings are seen at Government Complex Sejong, Tuesday. Yonhap

With the FSC's relocation now confirmed, attention is also turning to the future of the Financial Supervisory Service (FSS), which is headquartered in Yeouido, Seoul.

The FSS is responsible for inspecting financial institutions, imposing sanctions and helping address financial market instability.

The watchdog has not been included in the relocation plan announced on Tuesday. The interior ministry noted the possibility of moving the FSS would be reviewed separately as part of the second phase of public institution relocations, which it plans to announce in the coming months.

"The relocation of public institutions is a matter for the relevant government ministries to decide, so we have no particular position on the matter. However, we are closely monitoring developments ahead of the government's planned announcement on the next round of relocation list in the fourth quarter," an FSS official said.

The prospect of relocation has already drawn strong opposition from the FSS labor union. In September, the union submitted a petition to President Lee Jae Myung warning that moving financial institutions apart could undermine coordination.

"Separating private financial companies, policy lenders and financial regulators that need to operate like a single organism would weaken communication, which is needed to swiftly detect subtle changes in market conditions," the union said.

The FSS is not the only financial institution whose future location is under scrutiny.

State-run lenders, including the Industrial Bank of Korea, the Export-Import Bank of Korea and the Korea Development Bank, are also closely watching developments amid expectations that opposition from their labor unions could intensify.

The Korea Financial Industry Union (KFIU), a major umbrella labor group representing workers across the financial sector, has expressed strong opposition to the potential relocation.

"A policy that undermines the country's hard-won financial competitiveness for administrative convenience cannot be justified," the group said in a statement Wednesday.

Concerns about relocation of financial institutions have also emerged within the ruling Democratic Party of Korea (DPK).

Rep. Lee Un-ju of the DPK criticized the plan, arguing that dispersing financial policymaking and supervisory institutions could delay decision-making.

"Finance is a clustering industry whose competitiveness grows when information, capital, professional talent, companies and investors are closely connected ... Balanced regional development should not come at the expense of the country's financial competitiveness," Lee wrote on Facebook.

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金融服务委员会计划于2027年下半年从首尔迁至世宗市，此举引发了金融业对监管沟通速度放缓和运营效率低下的担忧。总部位于首尔的银行和证券公司可能会更多地依赖远程沟通渠道，但官员们表示，在敏感问题和紧急情况下，视频沟通可能不足以应对。此次搬迁是2027年至2031年间将44个中央政府机构及其附属机构迁至世宗市计划的一部分。

计划中的搬迁将使 FSC 从首尔向南迁移约 110 公里至世宗市。

政府计划在 2027 年至 2031 年间搬迁 44 个中央政府机构及其附属机构，以实现职能分散化，促进区域发展。

最近十几家金融机构疑似遭受人工智能辅助的网络攻击，凸显了银行与监管机构之间快速沟通的必要性。

金融监管局尚未被纳入已确认的搬迁计划，但内政部表示，其搬迁计划将在第二阶段公共机构搬迁中进行单独审查。

韩国金融产业联盟表示，为了行政便利而搬迁金融机构可能会削弱韩国的金融竞争力。

发布于2026年10月15日下午3:14（韩国标准时间）

各银行对可能出现的业务中断表示担忧，并与金融监管机构进行了协调。

2025年9月9日，首尔政府大楼金融服务委员会走廊内，工作人员正在工作。（韩国时报 洪仁基 摄）

金融业官员周四表示，金融服务委员会（FSC）计划明年迁至行政城市世宗市，这引发了整个金融业对与监管机构沟通可能中断以及由此导致的运营效率低下的担忧。

业内人士尤其担心，此举可能会使银行和证券公司（其中大多数总部设在首尔）更难就监管事宜咨询金融监管机构。

韩国最高金融监管机构目前位于首尔，计划于 2027 年下半年迁至位于首尔以南约 110 公里的世宗市。此举是韩国政府一项更广泛计划的一部分，该计划旨在 2027 年至 2031 年间将 44 个中央政府机构及其附属机构从首尔都市圈迁至世宗市，以分散集中在首都地区的职能，促进区域发展。

各家银行正在权衡如何调整，一些银行预计将更加依赖远程沟通。

首尔一家商业银行的官员表示：“我们希望找到应对方法，包括扩大远程渠道的使用，以最大限度地减少我们运营中的任何漏洞。”

另一位银行官员表示：“我们尚未制定针对金融服务委员会搬迁的具体措施，但如果搬迁造成运营不便或延误对紧迫问题的回应，我们将考虑调整我们的政府关系做法。”

除了乘坐 KTX 高速列车前往世宗所需的时间和费用之外，更大的问题是，在紧急情况下，银行能否与监管机构迅速协调。

例如，最近十几家金融机构遭受疑似人工智能 (AI) 辅助的网络攻击，凸显了银行与监管机构之间迅速沟通的必要性。

业内人士表示，远程沟通存在局限性，因为出于安全考虑，一些敏感问题可能难以通过视频通话进行讨论。

周二，世宗市政府大楼群内可见政府办公楼。（韩联社）

随着 FSC 搬迁事宜得到确认，人们的注意力也转向了总部位于首尔汝矣岛的金融监督院 (FSS) 的未来。

金融稳定署负责检查金融机构、实施制裁并帮助解决金融市场不稳定问题。

该监管机构并未被纳入周二公布的搬迁计划。内政部指出，联邦安全局的搬迁可能性将作为公共机构搬迁第二阶段计划的一部分单独进行审查，该计划预计将在未来几个月内公布。

“公共机构搬迁是相关政府部门的决定，因此我们对此没有具体立场。但是，我们正在密切关注事态发展，政府计划在第四季度公布下一轮搬迁名单，”一位联邦统计局官员表示。

搬迁计划已遭到金融稳定协会（FSS）工会的强烈反对。今年9月，该工会向总统李在明递交请愿书，警告称金融机构分散搬迁可能会破坏协调机制。

工会表示：“将需要像一个整体一样运作的私人金融公司、政策性贷款机构和金融监管机构分开，会削弱沟通，而沟通对于迅速发现市场状况的细微变化至关重要。”

FSS 不是唯一一家未来选址受到密切关注的金融机构。

包括韩国产业银行、韩国进出口银行和韩国开发银行在内的国有银行也在密切关注事态发展，预计来自其工会的反对可能会加剧。

代表金融业从业人员的主要工会组织韩国金融产业工会（KFIU）对此次搬迁表示强烈反对。

该组织周三在一份声明中表示：“为了行政便利而损害国家来之不易的金融竞争力的政策是站不住脚的。”

韩国执政党共同民主党内部也出现了对金融机构搬迁问题的担忧。

民主党议员李云柱批评了该计划，认为分散金融政策制定和监管机构可能会延误决策。

李在脸书上写道：“金融是一个集群产业，只有信息、资本、专业人才、公司和投资者紧密联系在一起，其竞争力才会增强……均衡的区域发展不应以牺牲国家的金融竞争力为代价。”

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