Lee Myeong Park's government has pursued regulatory reform since 2008, but many people think that there are too many regulations in the financial sector of Korea. In Regulatory Reform Committee, all the regulations of government are registered, and the registered regulations of the financial sector are only 7% of all regulations. But people think that regulations of the financial sector become increased. We assumed that the reason would be existence of agency regulations. Therefore, in this article, we tried to analyze the regulations of agencies in the financial sector.

 

We analyzed 7 public institutions in the financial sector, and found 534 agency regulations in total. Officially, the registered regulations in the financial sector are 843, but there are 534 more regulations if we consider regulations of public agencies. It is necessary to think about regulations of public agencies when we seek to regulatory reform in the financial sector.