Photo News - Financial Services Commission

Photo News

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FSC unveils plans to promote digital financeJul 27, 2020

The FSC announced its plans to promote digital finance on July 24, which focus on improving regulations for the industry, ensuring strong protection for digital finance users, building foundations and infrastructure to facilitate large volumes of digital financial transactions and strengthening data security to ensure stability in the financial system. * Please see press release for details.
Vice Chairman holds financial development review committee meetingJul 24, 2020

Vice Chairman Sohn Byungdoo presided over a meeting of the financial development review committee on July 24, and discussed the government's financial policy direction for the post-pandemic era. At the meeting, Vice Chairman Sohn outlined key financial policy tasks, such as supporting the steady growth of the real economy and innovative firms, improving the regulatory environment to facilitate the development of new and innovative business models for financial companies, preventingadeepeningofeconomic polarization and closely monitoring risk factors in the financial sectors. * Please see press release for details.
FSC Chairman meets with heads of financial holding groupsJul 23, 2020

FSC Chairman Eun Sung-soo held talks with heads of financial holding groups on July 23, and shared opinions about the recent issues surrounding the financial industry and expected changes in a post-pandemic era.During the meeting, Chairman Eundiscussedtheimportantroleofthefinancialindustry in successfully carrying out the government's new deal initiative and called for close cooperation. * Please see press release for details.
Vice Chairman holds 13th financial risk assessment meetingJul 21, 2020

Vice Chairman Sohn Byungdoo presided over the 13th financial risk assessment meeting on July 21 to review market conditions and monitor the progress in implementing the COVID-19 financial support. At the meeting, Vice Chairman Sohn highlighted the significant role of finance in the government's new deal initiativeandstated that the FSC will actively support new investment projects and encourage private sector investment in new growth areas to help channel more funding sources into the new deal projects. * Please see press release for details.
FSC Chairman meets with officials from financial companies, big techs and fintechsJul 21, 2020

FSC Chairman Eun Sung-soo met with officials from financial institutions, big techs and fintechs as well as academia on July 21, and held talks on ways to promote the advancement of Korea's financial industry. During the talks, Chairman Eun vowed strong support for digital transformation in the financial industry and stated that the traditional financial companies, big techs and fintechs should build mutual understanding and cooperative relations with each other. * Please see press release for details.
FSC Chairman holds 43rd financial hubs establishment committee meetingJul 16, 2020

FSC Chairman Eun Sung-soo presided over the 43rd financial hubs establishment committee meeting on July 16, and discussed ways to reassess the government's financial hub policy following recent changes in market environments at home and abroad. At the meeting, Chairman Eun said that the government will work to enhance transparency in Korea's financial regulatory environment and find innovative ways to improve competitiveness of our financial industry. * Please see press release for details.
Vice Chairman holds 12th financial risk assessment meetingJul 14, 2020

Vice Chairman Sohn Byungdoo presided over the 12th financial risk assessment meeting on July 14 to discuss the financial market conditions and monitor the progress in implementing the COVID-19 financial support. At the meeting, Vice Chairman Sohn spoke about the acceleration of digital transformation and the move toward "untact" economic activities caused by the COVID-19 pandemic,whilestressingthe importance of agile responsestochangesand being well prepared forthe post-pandemic era. * Please see press release for details.
FSC Chairman speaks about promoting AI application in financial sectorsJul 09, 2020

FSC Chairman Eun Sung-soo visited the Korea Insurance Development Institute's automobile technology research center in Icheon-si, Gyeonggi-do on July 9 and held talks on the importance of innovation and promoting the application of artificial intelligence in the financial industry. Chairman Eunhadanopportunitytotryouthow AI-based auto damage appraisal service works. * Please see press release for details.
Vice Chairman holds 11th financial risk assessment meetingJul 07, 2020

Vice Chairman Sohn Byungdoo presided over the 11th financial risk assessment meeting on July 7 to discuss the financial market conditions and monitor the progress in implementing the COVID-19 financial support. At the meeting, Vice Chairman Sohn spoke about the significance of corporate restructuring as an essential step to restore the competitiveness of a business in the process of business normalization. * Please see press release for details.
FSC Chairman delivers keynote address at a seminar commemorating day of information protectionJul 07, 2020

FSC Chairman Eun Sung-soo delivered a keynote address at a seminar held by the Financial Security Institute commemorating the day of information protection on July 7.Duringhisspeech,Chairman Eun said that user convenience and data securityareoftenin a trafe-off relationship, and that the government, financial institutions, fintechs and big techs should all work together to find a balanced approach in seeking both innovation and security in financial services. * Please see press release for details.
Vice Chairman delivers congratulatory remarks at open banking seminarJul 06, 2020

Vice Chairman Sohn Byungdoo attended the open banking seminar and delivered congratulatory remarks on July 6. In order to build upon the progress and further develop Korea's open banking system, Vice Chairman Sohn said thatexpandingtheserviceto the non-banking sector, guaranteeing information security and data protection, providing an open platform for all participating banks and institutions, and ensuring stability should be considered.* Please see press release for details.
Vice Chairman holds meeting to discuss plans for comprehensive inspection of fraud-prone sectorsJul 02, 2020

Vice Chairman Sohn Byungdoo held a meeting on July 2 to discuss plans to carry out comprehensive inspectionstargetingfraud-prone sectors where consumer losses from illegal activities have been concentrated. The specific targets include private equity funds, peer-to-peer lending, illegal activities by unregistered financial service providers and illegal predatory lending practices vishing. * Please see press release for details.