The Financial Supervisory Service (FSS) spent 189 million won of the 327 million won ($240,000) subsidy allocated last year to its Financial Hub Support Center, resulting in a 57.8% budget execution rate. The center was created to help South Korean financial firms expand overseas and foreign financial firms enter the domestic market, but a National Assembly review found that its activities focused mainly on overseas investor-relations events and international cooperation rather than direct corporate assistance. Overseas IR spending totaled 170 million won, while 33 million won was allocated for visits to overseas supervisory authorities. The review said the center’s reports showed no clear results from support for overseas licensing, local regulatory problems or attracting foreign financial investment. The Financial Services Commission accepted the findings and plans to examine operational improvements, while lawmakers also raised questions about the center’s performance management and volatile spending pattern.