FSS Engages with Financial Consumers On-Site... Strengthening Financial Accessibility for Seniors and People with Disabilities

On-site Meeting Held to Hear Consumer Concerns
"Improving Unreasonable Practices"

The Financial Supervisory Service has launched an on-site communication initiative to enhance financial accessibility for vulnerable groups, such as senior citizens and people with disabilities, and to improve unreasonable financial practices.

Lee Chan-jin, Governor of the Financial Supervisory Service, attended the Asset Management Company CEO meeting held on July 13 at the Korea Financial Investment Association in Yeouido, Seoul, and delivered opening remarks. 2026.07.13 Photo by Dongju Yoon

On July 16, Lee Chan-jin, Governor of the Financial Supervisory Service, held a “Financial Consumer On-Site Voice Listening Meeting” at the main office of the FSS in Yeouido, Seoul, with the participation of senior citizens, people with disabilities, consumer organizations, and the general public.

This meeting was organized to listen directly to the inconveniences and difficulties financial consumers face in their daily lives and to discuss the direction for consumer protection oversight and system improvements. The participants shared a wide range of opinions on key consumer protection topics, including expanding accessibility for people with disabilities and senior citizens, improving the way financial products are explained, preventing damages from financial scams and livelihood-threatening crimes, and expanding financial education efforts.

Governor Lee stated, “Finance should not be a stumbling block in one’s daily life, but rather a stepping stone that supports it.” He added, “The FSS has made multifaceted efforts to improve accessibility for various financial consumers, such as seniors and people with disabilities, and to rectify unreasonable practices.” He further emphasized, “It is not those who create the systems but those who use them that make them complete. Please speak candidly about any aspects of finance that have felt like barriers.”

The FSS has been promoting the introduction of easy modes in financial applications for the elderly and expanding support infrastructure tailored to the types of disabilities. In addition, it has expanded artificial intelligence (AI)-based real-time consultation services for foreigners and multicultural families, and has made it easier for dementia patients to claim insurance benefits by revitalizing the authorized agent claim introduction system.

Furthermore, to help consumers easily understand complex financial products, the FSS is visualizing and digitizing explanatory materials, strengthening the obligation to explain key risks, and expanding financial education. The organization is also enhancing its response to financial crimes, such as voice phishing and illegal private lending, in close cooperation with the relevant authorities to better protect livelihoods.

The FSS plans to thoroughly review the consumer opinions raised at this meeting and actively reflect them in its financial oversight and system improvement processes. In particular, the agency will strengthen collaboration with related organizations and expand customized support to improve accessibility and self-determination for financially vulnerable groups, such as senior citizens and people with disabilities.

Additionally, the FSS intends to continue on-site communication that involves both general consumers and the financial industry, ensuring that improvements in business practices and systems at financial institutions translate into meaningful outcomes.

This content was produced with the assistance of AI translation services.