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Financial support framework established to facilitate restructuring of petrochemical industrySep 30, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission attended a meeting with major banks and policy financial institutions on September 30 where creditor institutions agreed to provide financial support needed to facilitate restructuring of the petrochemical industry. At the meeting, Vice Chairman Kwon spoke about the significance of creditor institutions coming together and showing concerted efforts in support for the struggling petrochemical industry. The creditor institutions plan to provide financial support in the form of maturity extension, interest rate adjustment, and new loans conditioned upon the viability of business restructuring plan and rigorous self-rescue efforts demonstrated by companies.
FSC Chairman meets with banking sector and discusses ways to seek transformation toward productive financeSep 29, 2025

Chairman Lee Eog-weon of the Financial Services Commission on September 29 met with the banking sector for the first time since assuming office and held talks on financial policy directions seeking to transform the industry toward productive finance. To facilitate banks to boost their productive finance drives, Chairman Lee said that authorities will continue to work on making improvements to capital regulations to encourage banks to supply more capital to productive sectors. With regard to the transition toward a more consumer-oriented approach, Chairman Lee asked banks to play a more active role in providing assistance to debtors and making contributions to the long-term debt restructuring program expected to be launched soon. At the same time, Chairman Lee also stressed the importance of ensuring rigorous management over household debt and supporting the restructuring of key strategic industries. In a move to enhance transparency and seek transformation toward a more consumer-oriented approach, Chairman Lee pledged to continue to maintain close communication and cooperation with the banking sector.
FSC Chairman and FSS Governor meet and vow to strengthen financial consumer protectionSep 29, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with Governor Lee Chanjin of the Financial Supervisory Service on September 29 and held discussions on ways to upgrade financial administration and supervision with aims to strengthen protection for financial consumers. At the meeting, both leaders showed strong willingness to revamp the financial administrative and supervisory work with goals to make the consumer protection function more effective and transparent. To this end, the FSC and the FSS will each carry out internal overhaul to strengthen consumer protection as a key national policy initiative. In doing so, the financial authorities will carry out administrative and supervisory duties while focusing on the actual needs and demands of consumers. Going forward, the leaders also pledged to work closely as a one team.
Vice Chairman holds meeting on strengthening capacity and resilience against cyberattacks in financial sectorSep 23, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting on enhancing information security across all financial sectors on September 23. The meeting was attended by some 180 chief information security officers representing financial companies acrossall sectors. In his opening remarks, Vice Chairman Kwon spoke about the importance of making sure that chief executives of financial companies take the responsibility of ensuring information security and protecting customers' privacy data. In this regard, Vice Chairman Kwon said that financial companies should re-examine their current data security systems and protocols and always keep their business continuity plans up-to-date to strengthen the capacity and resilience against cyberattacks.
FSC Chairman presides over inaugural meeting on productive financeSep 19, 2025

Chairman Lee Eog-weon of the Financial Services Commission presided over the inaugural meeting on transforming the financial industry and seeking a transition toward productive finance on September 19. Todays meeting was joined by industry representatives from different regions and officials from different business sectors and sizes who shared their ideas and suggestions in collaborative efforts to seek growth in both the real economy and financial sectors.In his opening remarks, FSC Chairman Lee said that the Korean economy is currently standing at an inflection point where the role of finance is considered to be ever more critical in providing solutions to various problems, such as low growth and wealth gap, and rebooting growth in the economy. To seek a transition toward productive finance, Chairman Lee introduced plans to pursue transformation of the following three areaspolicy finance, financial business, and capital markets.
Vice Chairman holds meeting on debt adjustment program for small merchants and self-employed business ownersSep 18, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting on New Start Fund, a debt adjustment program intended for small merchants and self-employed business owners, with officials from related organizations and industry groups on September 18. At the meeting, the FSC and related organizations introduced plans to broaden the current eligibility criteria for debt adjustment support and strengthen assistance especially for lower income and/or socially vulnerable groups. With these measures in place, Vice Chairman Kwon said that more micro-enterprises and self-employed business owners will be able to receive support more quickly. While speaking about the importance of maintaining cooperation among related organizations to ensure a seamless operation of the debt adjustment support program, Vice Chairman Kwon also said that it is necessary for consumer credit businesses to boost social responsibility.
FSC Chairman and FSS Governor meet for first time and pledge to strengthen cooperationSep 16, 2025

Chairman Lee Eog-weon of the Financial Services Commission and Governor Lee Chanjin of the Financial Supervisory Service held a meeting on September 16 for the first time since taking office and had talks on the importance of maintaining consistency in pursuing financial policies and regulatory duties. At the meeting, the two leaders discussed the need to seek productive finance, expand inclusive finance, and boost risk management in the financial industry, while pledging to bolster cooperation between the two organizations.
FSC Chairman meets with CEOs of financial holding groups after taking officeSep 15, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with the CEOs of major financial holding groups on the first day of taking office on September 15 to discuss key strategies of the financial sector to facilitate a sustainable growth in the Korean economy. In his opening remarks, Chairman Lee spoke about the urgency of pushing for major transformation in the financial industry toward a more productive, consumer-oriented, and reliable finance to foster a sustainable growth into the future. In this process, Chairman Lee highlighted the importance of maintaining close-knit cooperation between the government, financial businesses, and related organizations.
11th FSC Chairman Lee Eog-weon takes officeSep 15, 2025

Lee Eog-weon took office as the 11th Chairman of the Financial Services Commission on September 15, 2025. In his inaugural address, the new FSC Chairman spoke about key strategies to transform the financial industry toward a more productive, consumer-oriented, and reliable finance to facilitate a sustainable growth of the Korean economy.
FSC holds meeting on small business support programsSep 04, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission met with officials from the Korea Federation of Micro Enterprises, policy financial institutions, and the banking sector to discuss financial support programs for small businesses on September 4. At the meeting, new financing programs worth KRW10 trillion were introduced to help small businesses in various challenging situations. The banking sector also announced a plan to supply KRW3.3 trillion worth of new financing program for small merchants with the potential to improve their competitiveness. In addition, officials at the meeting also introduced three specific programs designed to help lower the cost of financing for small merchants. Speaking about the importance of maintaining close communication on the ground, FSC Vice Chairman Kwon pledged to closely follow up on the progress of these support programs.
FSC holds meeting with policy financial institutions and financial holding groups to discuss financial support measures in response to U.S. tariffsSep 03, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting with policy financial institutions and financial holding groups on September 3 and discussed financial support measures in response to U.S. tariffs. From the beginning of this year until the end of August, policy financial institutions and major financial holding groups have already provided about KRW63 trillion and KRW45 trillion in financial assistance, respectively. Until the end of next year, policy financial institutions and five major financial holding groups plan to supply KRW172 trillion and KRW95 trillion in total, respectively, to the businesses and industries affected by U.S. tariffs. While speaking about the importance and urgency of providing support for the industries heavily affected by U.S. tariffs, such as the auto, steel, petrochemical industries that constitute the country's major export sectors, Vice Chairman Kwon said that the support measures should not only help the survival of these companies but also assist them to strengthen competitive edge and find new growth drivers. The FSC and the Korea Asset Management Corporation (KAMCO) also plan to launch an additional corporate restructuring innovation fund in the size of KRW1 trillion to support businesses in the petrochemical, steel, auto, semiconductor, secondary battery, and display sectors facing the risk of restructuring triggered by U.S. tariffs.
FSC and North Jeolla Province sign MOU to better provide one-stop assistance to local residentsSep 01, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission visited Jeonju, North Jeolla Province on September 1 and held a meeting with local business and industry officials representing SMEs to listen to their ideas and suggestions to improve upon the provision of financial assistance. Prior to the meeting, the FSC and the state government of North Jeolla signed a memorandum of understanding (MOU) on strengthening cooperation to boost the provision of one-stop finance-and-welfare assistance to the residents of North Jeolla.