South Korea’s financial commission to move to Sejong in 2027 — Korea Herald

South Korea’s Financial Services Commission (FSC) will move from Seoul to the city of Sejong in the second half of 2027. The body was included in the second stage of the government’s program to relocate central government institutions, Korea Herald reports.

Relocation of the FSC and financial intelligence unit

The FSC, which is responsible for financial policy, the banking sector, capital markets and the protection of financial services consumers, will relocate 340 employees from the government complex in Seoul to Sejong. The Korea Financial Intelligence Unit, affiliated with the FSC and employing 80 people, will also move to the new location.

The commission will operate from leased offices. Its relocation is intended to bring financial policymaking closer to the key economic ministries already located in Sejong and could strengthen coordination in fiscal, macroeconomic and financial policy.

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Financial sector concerns

At the same time, Seoul remains the country’s financial industry hub: the Financial Supervisory Service, major banks, securities trading companies and financial associations operate there. Financial sector unions warned that distancing regulators from financial institutions could slow responses to crisis situations, increase operating costs and accelerate the outflow of experienced professionals.

Previously, a survey of 1,538 members of the Financial Supervisory Service union showed that 69.7% of respondents would consider changing jobs if the institution relocated. Among employees under 40, the figure was 82.5%.

The government plans to give final approval to the revised plan after consultations and public hearings. The relocations will take place in stages depending on office readiness and preparatory measures, while civil servants are promised assistance with moving and settling in at the new location.