Photo News - Financial Services Commission

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FSC Chairman holds press briefing and discusses policy outline for next yearDec 14, 2020

FSC Chairman Eun Sung-soo held a virtual press briefing on December 14 and discussed key policy plans for the next year. Chairman Eun stated that a successful financial market turnaround in Korea was made possible due to the effectiveness of K-quarantine and economic response measures on top of strong corporate earnings performance. Speaking on the next year's focus, Chairman Eun indicated that (a) overcoming the pandemic crisis, (b) ensuring effective implementation and generating outcomes and (c) maintaining close communication with all stakeholders as key policy tasks.* Please see press release for details.
Vice Chairman holds meeting on insurance businesses to prepare for implemention of IFRS 17Nov 30, 2020

Vice Chairman Doh Kyu-sang held a virtual meeting on November 30 to discuss ways to improve rules on insurance businesses in preparation for the implementation of IFRS 17 in 2023. At the meeting, Vice Chairman Doh announced the FSC's plans to set up a task force on thisissue and to introduce a revision bill to the Insurance Business Act to the National Assembly during the first half of 2021. * Please see press release for details.
Vice Chairman holds 30th financial risk assessment meetingNov 26, 2020

Vice Chairman Doh Kyu-sang held the 30th financial risk assessment meeting via teleconference on November 26 to check the implementation of the COVID-19 emergency financial support programs. At the meeting, Vice Chairman Doh also discussed the current financial market conditions and potential risks, credit lending in the banking sector and the government's plans to extend the period of support available for vulnerable debtors. * Please see press release for details.
Vice Chairman holds meeting on future outlook and competitiveness of financial industryNov 25, 2020

The FSC held a meeting on the future outlook and competitiveness of the financial industry chaired by Vice Chairman Doh Kyu-sang on November 25. A new twelve-member expert review committee has been set up to lead the future outlook and competitiveness assessment of the financial industry. The assessment will focus on lowering entry barriers into the financial industry and building financial infrastructures appropriate for the 4th industrial revolution era. * Please see press release for details.
Vice Chairman holds 29th financial risk assessment meetingNov 13, 2020

Vice Chairman Doh Kyu-sang presided over the 29th financial risk assessment meeting on November 13. At the meeting, Vice ChairmanDohunveiled the government's plans to moreeffectively manage household debt and discussed the implementation of the COVID-19 financial support programs. In Q1 2021, the government will introduce measures to more effectively manage household debt, which will focus on tightening the DSR rules.* Please see press release for details.
Vice Chairman holds 4th consultative body meeting on digital financeNov 12, 2020

Vice Chairman Doh Kyu-sang presided over the 4th consultative body meeting on digital finance on November 12 and laid out the following three key principles for the MyData industry--(a) guaranteeing consumer rights to data ownership, (b) improving safety and scalability of MyData services and (c) creating a cooperative ecosystem for all stakeholders. At the meeting, Vice Chairman Doh stressed the importance of boosting communication and cooperation between all stakeholders to come up with mutually beneficial solutions. * Pleaseseepress release for details.
FSC Chairman attends 1st round of Korean New Deal IR eventNov 06, 2020

FSC Chairman Eun Sung-soo attended the first round of the Korean New Deal investment information event held on November 6 and delivered congratulatory remarks. The first round IR event focused on Digital New Deal sectors, such as data analytics, 5G and AI technologies. During his speech, Chairman Eun explained the key details and expected benefits of the K-New Deal fund.
FSC Chairman attends National Economic Advisory Council meetingNov 06, 2020

FSC Chairman Eun Sung-soo attended a National Economic Advisory Council meeting on November 6 and spoke about the important role of finance in promoting innovation and preparing for a post-pandemic era. Chairman Eun also discussed the advantages of the Korean New Deal fund and the FSC's plans to promote movable asset-based financing for innovative businesses.* Please see press release for details.
FSC Chairman holds market monitoring meetingNov 06, 2020

FSC Chairman Eun Sung-soo held a meeting to review the effects of the US presidential election on financial markets at home and abroad on November 6. As there are possibilities of growing market volatilities in the financial markets in the wake of the US presidential election, the FSC will continue to stay alert and closely monitor market conditions.* Please see press release for details.
FSC Chairman delivers congratulatory remarks at the 5th finance day celebration eventOct 27, 2020

FSC Chairman Eun Sung-soo attended the 5th finance day celebration event held on October 27 in Seoul and delivered congratulatory remarks. During his speech, Chairman Eun spoke about the importance of maintaining stability in the financial markets amid growing demand for contactless services and rising market volatility. With digital transformation taking place rapidly, Chairman Eun also touched upon the significance of innovation and inclusion in financial sectors.
Vice Chairman holds 3rd consultative body meeting on digital financeOct 21, 2020

Vice Chairman Sohn Byungdoopresided overthe 3rd consultative body meeting on digital finance on October 21. At the meeting, Vice Chairman Sohndiscussed ways to promote an advancement of the open banking system and difficulties faced by fintechs and big techs in a quickly changing digital environment. In order to further develop the open banking system, Vice Chairman Sohn said that the government will work to (a) boost scalability, (b) promote reciprocity and (c) enhance security and risk management.* Please see press release for details.
Vice Chairman holds 26th financial risk assessment meetingOct 20, 2020

Vice Chairman Sohn Byungdoo held the 26th financial risk assessment meeting via teleconference on October 20 to discuss the implementation status of the COVID-19 emergency financial support programs. At the meeting, Vice Chairman Sohn discussed the importance of ensuring the availability offinancial support to small merchants with all credit backgrounds including those with unfavorable credit history. * Please see press release for details.