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Re-employment disapproval/restriction: 1 case → 3 cases… All restricted in April, passed in May-June
In the first half of this year, as the employment screening for public officials by the Government Public Ethics Committee was strengthened, re-employment restrictions for Financial Supervisory Service (FSS) retirees increased.
The number of retirees heading to 'law firms' increased, while moves to the virtual asset industry disappeared.
According to data from the Ministry of Personnel Management's employment screening results on the 7th, 24 out of 27 re-employment screening cases in the first half of this year received approval or a decision to allow employment.
Compared to 27 out of 28 cases in the first half of last year, the number of employment restrictions/disapprovals increased from 1 to 3.
Last year, only one Grade 2 employee attempting to move to the Insurance Training Institute as head of the training division was disapproved, but this year, all applicants were disapproved or restricted from employment in the April screening.
At that time, former Vice Governor Kim Mi-young tried to move to the Korea Credit Information Services, but the disapproval decision put a stop to it.
Grade 3 and 4 employees who attempted to re-employ at Coupang, which was controversial due to information leakage, were also restricted from employment.
It is reported that two people who also requested confirmation of employment restrictions were put on hold.
However, in May and June, all applicants passed the total of 7 screenings.
In the first half of this year, there were 8 cases of movement to law firms, an increase from last year (5 cases). It is reported that one of those who tried to re-employ at Coupang also moved to a law firm.
There were no cases for virtual asset exchanges this year, compared to 4 in the first half of last year. Last year, Dunamu (2 managers/team leaders) and Bithumb (2 executive-level employees) underwent employment screening, but this year, related re-employment cases disappeared from the list for the first half.
This is interpreted as the impact of the industry downturn in the virtual asset sector and the reduced demand for former financial authorities officials.
An FSS official said, "At the time of the enactment of the Virtual Asset User Protection Act, there was demand for former financial authorities officials, but currently, discussions on the enactment of the Digital Asset Act have also stopped, and the industry is in a downturn, so new demand seems to have decreased."
Moves to asset management companies and capital companies increased. While there were no asset management companies in the first half of last year, this year 4 cases (Samsung, KB, BNK, Samsung SRA) passed the screening, and there were also 3 cases of movement to capital companies (Meritz, BNK, Woori Financial).
It remains to be seen whether the trend of re-employment restrictions in April will continue into the second half or if it will be a temporary phenomenon.
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