There has been suspicion in some quarters that the reason the FSC was unable to nip the looming insolvency problem in the bud was because of its lax supervision of credit card companies under the influence of the MOFE that wanted to boost domestic demand.
With regard to this problem, the question of an adjustment of the functions of the MOFE, the FSC and the FSS has recently come under discussion. 4. Response of the Bank of Korea to the new financial supervisory system  Now I would like to tell you how the Bank of Korea has come to live with the new financial supervisory system.