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[Alpha Biz=(Chicago) Reporter Paul Lee] Samsung's financial complex business group, which includes Samsung Life Insurance Co., Samsung Fire & Marine Insurance Co., Samsung Card Co. and Samsung Securities Co., was asked by the Financial Supervisory Service to improve internal control.

According to the financial sector on the 26th, the Financial Supervisory Service notified six cases of management and eight cases of improvement, pointing out the need to strengthen internal control and crisis management system, and the need to improve joint investment reporting and management work.

Management precautions and improvements are administrative guidance measures that require caution or autonomous improvement by financial companies.

During the inspection, the FSS pointed out that Samsung's financial complex business group lacks the scope of application of internal control and risk management standards and the reflection of internal regulations, and that the division of duties of compliance officers and others needs to be clarified.

As of the end of 2021, Samsung Life Insurance is the flagship company of Samsung Financial Complex Business Group, with assets of 495.2 trillion won and 34 financial companies belonging to it.

 

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