Photo News - Financial Services Commission

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Authorities hold meeting on financial measures to boost housing supplyOct 05, 2023

FSC Standing Commissioner Kwon Dae-young held a meeting with related ministries, policy financial institutions and financial industry representatives on October 5 to check the implementation plan of the financial measures intended to boost housing supply. The authorities expect that the real estate PF market normalization fund, which will be available for operation from this month, is expected to facilitate restructuring of real estate development projects, and this will help to bring in new money from the private sector through investments in the NPL market. Despite challenging circumstances, FSC Standing Commissioner Kwon said that the collective effort made by the public and private sectors will in time help to alleviate difficulties of both real estate development projects and the supply of housing for the public.
FSC Chairman delivers congratulatory remarks at Korea-Japan startup fund launching eventOct 04, 2023

FSC Chairman Kim Joo-hyun attended the Korea-Japan collaboration startup fund ("Future Flow Fund") launching event during his visit to Tokyo, Japanon October 4 and delivered congratulatory remarks. In his speech, Chairman Kim said that he hopes to see more joint collaboration projects in the futureacross wide-rangingfinancial sectorsincludingbanking, insurance, capital market and fintech.
FSC Chairman attends Korea-Japan banking industry MOU signing event and joint seminarOct 04, 2023

FSC Chairman Kim Joo-hyun attended the Korea-Japan banking federations' MOU signing event and joint seminar on green and digital transformation during his visit to Tokyo, Japan on October 3. At the event, Chairman Kim delivered congratulatory remarks expressing his hope for strengthening of mutual cooperation between the banking industries of Korea and Japan in the areas of sustainable finance and digital finance.
FSC Chairman meets with Korean financial companies operating in JapanOct 04, 2023

FSC Chairman Kim Joo-hyun met with a group of Korean financial company representativesoperating in Japan on October 2 and held talks on the financial industry and market situation in Japan and listened to their challenges and suggestions.
FSC Chairman delivers speech at Nikkei Sustainable Forum in TokyoOct 03, 2023

FSC Chairman Kim Joo-hyun attended the Nikkei Sustainable Forum held in Tokyo, Japan on October 2 and delivered a speech highlighting the importance of strengthening bilateral cooperation on startup and venture business investment. Japanese Prime Minister Fumio Kishida, in his opening speech, expressed welcoming remarks for Chairman Kim's visit to Japan and participation in the forum.
FSC Chairman visits Japan and meets with FSA CommissionerOct 03, 2023

FSC Chairman Kim Joo-hyun visited Tokyo, Japan and held a meeting with Japan's Financial Services Agency Commissioner Teruhisa Kurita on October 3. The meeting between the chief financial authorities of two countries is the first time in eight years since 2015. At the meeting, the financial authorities of Korea and Japan agreed to resume the so-called "shuttle meeting" and discussed potential areas for deepening ties and cooperation in financial sectors.
Vice Chairman meets with Deputy Governor of Bank of ThailandSep 25, 2023

FSC Vice Chairman Kim So-young met with the Bank of Thailand's Deputy Governor Ronadol Numnonda and held talks on Korea's policy experience with internet-only banks on September 25. The Bank of Thailand requested for a meeting with the FSC to seek policy consultationas it has been seeking to introduce a guideline on virtual banks. At the meeting, Vice Chairman Kim explained the Korean government's experience of embracing internet-only banks as well as some of their achievements and asked for Bank of Thailand's cooperation and support to allow Korean financial companies to participate in the future licensing process for virtual banks in Thailand. Prior to the high-level meeting between Vice Chairman Kim and Deputy Governor Numnonda, a working-level staff meeting was held for sharing more detailed information about Korea's policy experience with internet-only banks.
FSC holds 4th consultative body meeting on policy finance supportSep 25, 2023

The Financial Services Commission held the 4th consultative body meeting on policy finance support with the related government ministries, policy financial institutions and a young entrepreneurs foundation on September 25. The consultative body on policy finance support was created last year to ensure more close alignment between the governments industrial strategies and supply of policy funds. As of August 2023, policy financial institutions have supplied a total of KRW73.8 trillion of policy funds support in the five key strategic sectors, achieving 80.4 percent of the annual supply target and surpassing the initial supply plan of 66.7 percent by the month of August. Along with concerns about an economic slowdown emanating from China, FSC Vice Chairman Kim So-young said that it is possible that interest rates and oil prices may continue to stay high for a while. Thus, in close coordination with relevant ministries, Vice Chairman Kim said that the authorities will work to ensure effective supply of policy funds to businesses to prevent funding shortages.
Authorities commemorate capital market investigation unit's establishment 10 years agoSep 21, 2023

The Financial Services Commission held an event commemorating the capital market investigation units establishment ten years ago together with the Seoul Southern District Prosecutors Office, the Financial Supervisory Service and the Korea Exchange on September 21. At the event, the authorities also set out plans to bolster market surveillance, investigation and punishment on unfair trading activities in capital markets.Speaking about the significance of the work performed by the investigation unit, FSC Chairman Kim Joo-hyun saidthat it is crucial to maintain stringent countermeasures against unfair trading activities because theyconstitute serious crimes that can erode investor confidence in capital markets.
Vice Chairman holds talks on promoting overseas expansion of domestic financial servicesSep 20, 2023

FSC Vice Chairman Kim So-young held talks with a group of experts from research institutions and academia on September 20 and listened to various opinions on ways to promote overseas expansion of domestic financial services. Reflecting on his recent visits to Central Asia and Southeast Asia, Vice Chairman Kim said that for Korean financial companies to be successful in expanding their businesses overseas, it is important to have concerted efforts and close communication between the public and private sectors. Since Korean financial companies are equipped with an advanced level of financial infrastructure and digital technology, Vice Chairman Kim said that they are highly competitive in overseas markets with the potential to lead market trends. In this regard, Vice Chairman Kim said that it is necessaryto keep close tabs on global market trends and be prepared for both risks and opportunities.
FSC Chairman visits inclusive finance support centerSep 20, 2023

FSC Chairman Kim Joo-hyun visited an inclusive finance support center operated by the Korea Inclusive Finance Agency on September 20ahead of the Chuseok holiday next weekand held talks on ways to expand the availability of microfinance support for vulnerable groups. During his visit, Chairman Kim had pep talks with the support center employees and expressed his appreciation for their hard work. Chairman Kim also talked about the government's efforts to boost microfinance support through a variety of programs including policy loans, debt adjustment, employment and welfare-linked counseling and so on.
Vice Chairman meets with OECD Deputy Secretary GeneralSep 20, 2023

FSC Vice Chairman Kim So-young met with the OECD's Deputy Secretary General Yoshiki Takeuchi on September 19and held talks on global financial environment and ways to expand cooperation between the two organizations. At the meeting, Vice Chairman Kim introduced Korea's major financial policy initiatives andachievementson fintech, virtual assetand corporate governance and said that the Korean government will actively share policy experience andknow-howswith other countries inAsia in close cooperation with the OECD.