Photo News - Financial Services Commission

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Vice Chairman delivers opening remarks at OECD-FSC-KIF Roundtable on Digital Finance in ASEANMar 18, 2024

The Financial Services Commission held a joint roundtable meeting on digital finance in ASEAN with the Organization for Economic Cooperation and Development (OECD) and Korea Institute of Finance (KIF) for two days on March 18-19. During the opening session, FSC Vice Chairman Kim Soyoung delivered opening remarks where he said that financial innovation based on digital technologies has been making positive impact on boosting the level of productivity in the financial industry. However, Vice Chairman Kim stressed the need to establish appropriate rules and ensure protection for consumers in response to newly emerging risks.
Vice Chairman holds meeting with institutional investors to promote active participation in the Corporate Value-up ProgramMar 14, 2024

Vice Chairman Kim Soyoung ofthe Financial Services Commission presided over a meeting with institutional investors on the Corporate Value-up Program on March 14.At the beginning of the meeting, Vice Chairman Kim delivered opening remarks, highlighting the three main principles behind the governments continuous push to end Korea discount(a) establishing a fair and transparent market order, (b) making Koreas capital market more accessible, and (c) promoting shareholder values in corporate management. In this regard, Vice Chairman Kim said that the Corporate Value-up Program is a part of the governments consistent efforts to upgrade our capital market with a focus on encouraging listed companies to make voluntary steps to make improvements and increase valuations.At the meeting, officials held discussions on how the stewardship code for institutional investors will be updated to promote their role in the Corporate Value-up Program and developing a new Korea value-up index.
Prompt credit recovery support to be available from todayMar 12, 2024

Chairman Kim Joo-hyun of the Financial Services Commissionattended the eventcommemorating the launch of prompt credit recovery supporton March 12.The credit recovery support will be provided to the borrowers who accrued delinquent payment history of up to KRW20 million between September 1, 2021 and January 31, 2024 andwillhave fully paid off their late payments by May 31, 2024.Starting from today, borrowers with delinquent payment history can check their eligibility on the website of individual credit rating and information companies. For those who have already paid off their late payments, their credit scores will be increased automatically without the need to apply for this separately.FSC Chairman Kim Joo-hyun said that the credit support programs being introduced today will help many people and businesses to regain footing and make a fresh start.
FSC Chairman meets with Vietnam's Finance MinisterMar 08, 2024

Chairman Kim Joo-hyun of the Financial Services Commission met with Vietnam's Minister of Finance Ho Duc Phoc at his office in Seoul on March 8 and held talks on strengthening financial cooperation between Korea and Vietnam. At the meeting, Chairman Kim talked about the potential of enhancing bilateral exchanges in capital market areas and suggested establishing an expanded level of cooperation between the two organizations as well as between the main bourse operators of the two countries. In addition, Chairman Kim explained about Korea's recent capital market reform initiatives and sought active cooperation from Vietnam's finance ministry in helping to resolve the challenges and difficulties of Korean financial companies doing business in Vietnam.
Vice Chairman holds 6th consultative body meeting on policy financeMar 06, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission presided over the 6th consultative body meeting on policy finance held on March 6 with officials from related government ministries and policy financial institutions participating. At the meeting, the authorities discussed launching of a fund specifically designated to support middle market enterprises in the size of KRW5 trillion with contribution made from the banking sector. The authorities also discussed this year's plan to raise at least KRW3 trillion for operatinginnovative growth fund, which has been set up for operation since last year with aims to boost future growth engines and cultivate innovative venture businesses.
Vice Chairman meets with Governor of the Bank of ThailandFeb 29, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission met with Governor of the Bank of Thailand Sethaput Suthiwartnarueput on February 28 in Bangkok.
Vice Chairman meets with Chairman of Thailand's Securities and Exchange CommissionFeb 29, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission met with Chairman Pichit Akrathit of the Securities and Exchange Commission of Thailand in Bangkok on February 28.
Vice Chairman holds IR event in Singapore Feb 27, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission held an investor relations event in Singapore with major institutional investors from Asia participating on February 27. During the dialogue, Vice Chairman Kim outlined the governments capital market reform initiatives with a particular attention on the recently announced Corporate Value-up Program, which have gained much interest from both domestic and overseas investors. Vice Chairman Kim said that the Corporate Value-up Program is intended to support listed companies voluntary efforts to enhance their value, and that it will be pursued on a continuing basis as a mid- to long-term project.
Vice Chairman holds a media briefing on the Corporate Value-up ProgramFeb 26, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission held a media briefing to explain key details ofthe Corporate Value-up Program on February 26.In order to actively support listed companies self-driven efforts to improve their corporate value, the government and relevant organizations set out a framework to implement the Corporate Value-up Program. The framework consists of three pillars: (a) supporting listed companies to prepare, implement and communicate their corporate value-up plans, (b) supporting investors in making informed evaluations and investments in companies that demonstrate outstanding improvements or high value, and (c) establishing a dedicated system to support the implementation of the Corporate Value-up Program.
FSC Chairman delivers congratulatory remarks at the 1st seminar on Corporate Value-up ProgramFeb 26, 2024

Chairman Kim Joo-hyun of the Financial Services Commission attended the first policy seminar on the Corporate Value-up Program held on February 26 and delivered congratulatory remarks. In his speech, Chairman Kim outlined the governments reform initiatives to bring about fundamental changes in our capital markets, which include (a) establishing a fair and transparent market order, (b) improving accessibility to capital markets, and (c) strengthening protection for general shareholders. To build up a positive feedback loop in our capital markets where listed companies are able to get proper valuation for sound growth and investors are able to share the profit of that growth and reinvest in the Korean capital market, the government needs to support companies voluntary efforts to raise their value, the Chairman said.
Vice Charman meets with young adults and holds talks on the youth savings acccount programFeb 23, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission met with a group of young adults and officials from related organizations and banks and held talks on the operation of the youth savings account program on February 23. At the meeting, Vice Chairman Kim discussed some of the key advantages and benefits of signing up for the youth savings account program and gathered comments to improve the operation of the program.
Vice Chairman outlines policy directions for updating open banking servicesFeb 21, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission visitedKorea Financial Telecommunications Clearings Institute (KFTC) in Seoul andheld a meeting with officials from relevant organizations and industry groups on February 21 to discuss ways to improve infrastructures for financial innovation and a plan to expand open banking services. At the meeting,Vice Chairman Kim outlined policy directions for further improvements in open banking and MyData services, saying that a further plan to bring improvements toopen banking services will be prepared to enhance convenience for financial consumers. * Please see press release for details.