The Financial Services Commission (FSC) has recognized the reform of the stock price manipulation whistleblower reward system and the introduction of a transaction suspension system for suspected phishing accounts as exemplary cases of active administration for the first half of this year.
On July 24, FSC Vice Chairman Kwon Dae-young awarded certificates of commendation to eight public officials (six for excellence and two for encouragement) for their outstanding contributions to active administration. The FSC plans to provide these awardees with incentives, including the highest performance bonuses in the future.
Among the exemplary cases was the reform of the capital market unfair trading whistleblower reward system, led by Officer Kim Min-soo. The FSC praised the complete overhaul of the reward system, including the removal of the cap on rewards for reporting stock price manipulation, which aims to encourage proactive reporting from insiders and promote fair market order.
Other recognized cases included measures to strengthen management of personal delinquent debts in the financial sector (Officer Lee So-min), the introduction of a transaction suspension system for suspected phishing accounts (Officer Nam Go-woon), the transition to a licensing system for debt collection (Officer Jang Hee-jin), the establishment of a joint support system in the financial sector related to the supply of naphtha due to the situation in the Middle East (Officer Lee Jeong-min), and measures to promote mid-interest loans (Officer Jeong Hyeong-jun).
The encouragement awards went to the expansion and reform of the Win-Win Insurance program for vulnerable groups (Officer Lee Young-min) and the improvement of the financial regulatory sandbox system (Officer Kim Chang-bae).
Additionally, Officer Yoo Eun-ji, who was recognized as an outstanding public official for active administration in the second half of last year, received the Green Tower Medal at the 6th Active Administration Awards organized by the Ministry of Personnel Management for her contributions to establishing infrastructure for preventing voice phishing through an information-sharing and analysis AI platform.
The FSC selected the eight exemplary cases after evaluating ten submissions received through internal and external calls, with assessments conducted by the Active Administration Monitoring Group and private members of the Active Administration Committee, culminating in a decision made at the second meeting of the committee on July 16.
Vice Chairman Kwon Dae-young stated, "It is increasingly necessary to promote policies that resonate with the public in a proactive and creative manner that breaks existing frameworks. I hope that we will continue to make efforts to approach the public one step closer through active administration in the second half of the year."
* This article has been translated by AI.
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