Financial Services Commission/Korea Financial Intelligence Unit

The Financial Services Commission (FSC) is the South Korean government's top financial regulator, established in 2008 to consolidate supervisory functions. Its mission is to advance the financial industry, ensure market stability, establish fair and orderly market practices, and protect financial consumers. The Korea Financial Intelligence Unit (KoFIU), operating as a division within the FSC, was founded in 2001 and serves as the country's central authority for implementing effective anti-money laundering (AML) and countering the financing of terrorism (CFT) measures, including the regulation of virtual asset service providers (VASPs).