Seogumwon and Shinbokwi have both undergone organizational restructuring aimed at providing quicker policy support for low-income financial assistance and enhancing consumer protection against illegal lending and complaints.
According to the financial sector on July 20, Seogumwon and Shinbokwi will operate under their restructured organizations starting today.
Seogumwon has integrated its previously dispersed guarantee, loan, and review functions into its Financial Business Division, which supplies policy financial assistance through financial companies. This aims to improve the speed of support by closely linking loan execution by financial companies with guarantee reviews by Seogumwon.
The Youth Financial Business Division under the Financial Support Division has been restructured into the Future Asset Formation Support Division. This change expands the target demographic for asset formation support beyond just young people to align with the life cycle of all citizens. The Microfinance Division has also been rebranded as the Microfinance Support Division.
The counseling function has been strengthened as well. The Customer Support Division has been renamed the Counseling Support Division, incorporating the Counseling Planning Department and the Non-Face-to-Face Counseling Department. The plan is to shift from a system where citizens visit the institution to apply, to a proactive counseling system that reaches out to users at risk of financial crises.
The data research function of the Strategic Planning Division has been advanced into a research center system, and the Public Relations Cooperation Office has been restructured into a Public Relations Office. The organizational structure has changed from four divisions, 15 departments, and three offices to four divisions, 15 departments, and four offices.
Shinbokwi has established a Future Business Promotion Division directly under the chairperson. This division consolidates functions related to business improvement and new business development, which were previously scattered across the Strategic Planning and Management Innovation sectors, and will also be responsible for planning international and overseas activities. The head of the Future Business Promotion Division will also serve as the secretary general.
The secretary's office, previously under the Human Resource Management Division, has also been moved to report directly to the chairperson. This is seen as a measure to enhance the chairperson's direct oversight of major projects and organizational operations.
A new Consumer Protection Department has also been created. Functions related to illegal lending responses and complaint handling, previously managed by the Customer Service Operations Department, have been transferred to the Consumer Protection Department to ensure these responsibilities are handled by a dedicated unit.
A Shinbokwi official stated, “The Future Business Promotion Division will oversee the innovation and new business development functions that were previously dispersed within the organization,” adding, “We have also strengthened consumer protection by establishing a separate department.”
However, it was clarified that this restructuring is not aimed at merging Seogumwon and Shinbokwi. A Shinbokwi official noted, “This is not a restructuring for the purpose of institutional integration, but rather to enhance business innovation and consumer protection.”
Meanwhile, the appointment of the next deputy director of Seogumwon has been delayed by about three months.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.