According to data from the Financial Supervisory Service, South Korea's financial sector, comprising banks, brokerage houses, and insurers, has spent a significant 2.4 trillion won ($1.78 billion) on client entertainment over the past five years. This spending breakdown includes 957.8 billion won by banks, 1.13 trillion won by brokerages, and 308.5 billion won by insurance companies. The five largest banks were responsible for more than two-thirds of the total entertainment expenses incurred by banks. Rep. Kim Hyun-jung of the Democratic Party of Korea has expressed concerns about the growing criticism faced by financial institutions due to instances of embezzlement, improper loans, and other financial irregularities. The lawmaker emphasized the importance of scrutinizing whether entertainment expenses are being utilized excessively or inappropriately, considering that the financial sector's profits largely stem from customer fees. Additionally, the recent on-site investigations conducted by the Financial Supervisory Service on major securities firms revealed instances of misconduct, prompting calls for enhanced oversight by regulatory authorities to curb escalating entertainment expenditures and prevent further unethical practices.