Saemaul Geumgo announced on the 15th that it will implement job competency enhancement training for the heads of the credit unions elected in the first nationwide simultaneous election this year until November.
Hong Seong-ki, Chairperson of the Saemaul Geumgo Central Association's Credit Union Supervisory Committee, who took office in March, will be a speaker providing special lectures during this training. Chairperson Hong has served for 24 years in roles such as the head of the small and medium finance division, the head of the general consumer finance division, and as a government policy officer in the financial sector, including mutual finance.
The Saemaul Geumgo Central Association has promoted this new chairperson's job competency training in response to increasing demands inside and outside for strengthening credit union supervision to prevent deterioration early and boost efficient internal control and checks.
The Saemaul Geumgo Central Association conducts periodic inspections and supervision of all credit unions at least once every two years by thoroughly applying the management innovation measures for Saemaul Geumgo established in November 2023 and relevant legislative amendments. If grounds for sanctions arise from the inspection results, it notifies the affected credit unions of the disciplinary actions, such as dismissal/disciplinary discharge or suspension/probation of employees, following the deliberation and resolution of the Credit Union Supervisory Committee.
Chairperson Hong noted, “We will focus inspection capabilities on high-risk credit unions and strengthen cooperation with the Financial Supervisory Service and the deposit insurance corporation to block risk factors at credit unions early.” He added, “At the same time, we plan to enhance the comprehensive inspection system, which includes routine inspections and early warnings, while actively utilizing the rotation inspection system.”