Photo News - Financial Services Commission

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FSC Chairman delivers congratulatory remarks at NextRise 2020Jun 23, 2020

FSC Chairman Eun Sung-soo delivered congratulatory remarks at the global start-up conference NextRise 2020 on June 23 in Seoul. At the event, Chairman Eun introduced the government's efforts to promote innovation in financial services and spoke about the importance of building mutual trust between businesses and investors.* Please see press release for details.
Vice Chairman holds 9th financial risk assessment meetingJun 23, 2020

Vice Chairman Sohn Byungdoo presided over the 9th financial risk assessment meeting on June 23 toassess the financial market conditions and monitor the progress in implementing the COVID-19 financial support. During the meeting, Vice Chairman Sohn stressed the importance ofpursuing a balanced approach to support the real economy along with effective measures to help businesses with low credit records. * Please see press release for details.
Vice Chairman Holds Talks on Improving Rules on Accounting and AuditingJun 22, 2020

Vice Chairman Sohn Byungdoo held a meeting on improving rules on accounting and auditing on June 22. While speaking on the importance of maintaining close communication with market players and continuing to pursue reform initiatives, Vice Chairman Sohn unveiled key improvements to the rules in the areas of appointment of SFC designated auditor, standard audit time, audit committee and internal accounting management system.* Pleaseseepressreleasefor details.
Vice Chairman holds briefing on the 7th Meeting of the Central Economic Response HeadquartersJun 19, 2020

Vice Chairman Sohn Byungdoohelda briefing on the results of the 7th Meeting of the Central Economic Response Headquarters on June 19. Atthemeeting, the government decided to introducea KRW2 trillion-plus financial support program for the auto parts industry and to launch Working Capital Support Program to help struggling subcontractors in the key industries. * Please see press release for details.
Vice Chairman holds meeting to review risk factors in financial sectorsJun 18, 2020

Vice Chairman Sohn Byungdoo held a meeting to review market conditions and risk factors in the financial industry on June 18 with experts from the public and private sectors. At the meeting, Vice Chairman Sohn spoke about the recent signs of recovery in the financial markets, the necessity of investor protection with derivatives products and the importance of maintaining financial soundness for securities firms and venture capital firms. * Please see press release for details.
FSC Chairman announces plans to promote crowdfundingJun 16, 2020

FSC Chairman Eun Sung-soo held a meeting with relevant officials from the public and private sectors on June 16 and unveiled the government's plans to promote crowdfunding. At the meeting, Chairman Eun said that the government will work to expand the role of crowdfunding in supporting innovative firms by improving regulations on businesses, investors and intermediaries, while creating an accountable markettofosterinvestment. * Please see press release for details.
Vice Chairman holds 8th financial risk assessment meetingJun 16, 2020

FSC Vice Chairman Sohn Byungdoo held the 8th financial risk assessment meeting on June 16 to check the implementation status of the COVID-19 financial support for businesses and households. During the meeting, Vice Chairman Sohn said that the government will work on providing supports to SMEs and the real economy sectors through a range of financial assistance programs, while ensuring a smooth implementation of temporary deregulatory measures. * Please see press release for details.
FSC Chairman holds talks with auto industryJun 15, 2020

FSC Chairman Eun Sung-soo visited Korea Fuel-Tech Corporation on June 15 in Seongnam-si and held talks on ways to provide effective assistance to the car and auto parts industries struggling with the pandemic-driven economic crisis. During his remarks, Chairman Eun emphasized the importance of close cooperation between the government, industry and financial institutions to minimize the damaging effects of the pandemic on the auto industry. * Please see press release for details.
FSC Chairman speaks at the Financial Development Review Committee meetingJun 11, 2020

FSC Chairman Eun Sung-soo attended the Financial Development Review Committee meeting on June 11 and spoke about the crucial role of finance in a post-COVID-19 era economy. During his speech, Chairman Eun touched upon a growing demand for 'untact' financial services and the challenges and opportunitiesof a post-pandemic era. Chairman Eun also said that financial safety nets should be strengthend to help foster innovation and entrepreneurship. * Please see press release for details.
Vice Chairman holds meeting on improving rules for reinsurance businessesJun 11, 2020

Vice Chairman Sohn Byungdoo held a meeting on June 11 to discuss ways to improve the current rules on reinsurance businesses. The meeting discussed the establishment of reinsurance business as a separate business category outside the current non-life insurance business category, requiring insurance companies to gain a separatepermitfor entering reinsurance market, and sub-categorizing reinsurance into life reinsurance, non-life reinsurance and other typesofreinsurance.
FSC Chairman holds press briefing on financial policy for H2 2020Jun 11, 2020

FSC Chairman Eun Sung-soo held a press briefing on June 11 and laid out the government's financial policy plans for the second half of 2020. Chairman Eun said that the government will promote digital finance, strengthen financial stability and promote inclusive finance in the second half of this year, while also balancing thechallengesbroughtaboutby the COVID-19 pandemic. * Please see press release for details.
Vice Chairman holds 7th financial risk assessment meetingJun 09, 2020

FSC Vice Chairman Sohn Byungdoo held the 7th financial risk assessment meeting on June 9 to assess the financial market conditions and check the implementation status of the COVID-19 financial support. At the meeting, Vice Chairman Sohnstatedthatthegovernmentwillmaintainclosemarketmonitoringandbolsterriskmanagementdespite signs of market stability, such as stock prices recovering to pre-COVID-19 levels and the yield spreads stabilizing in the corporate bond and CP markets. * Please see press release for details.