Photo News - Financial Services Commission

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FSC Chairman delivers congratulatory remarks at the 7th annual finance day commemoration eventOct 25, 2022

FSC Chairman Kim Joo-hyun attended the 7th annual finance day commemoration event held in Seoul on October 25 and delivered congratulatory remarks. During his speech, Chairman Kim talked about the significance of conferring awards to those who have been selected for the three award categories which include "saving and investment," "inclusive finance" and "innovative finance." Chairman Kim congratulated the award recipients and introduced some of the key contributions they have made for the advancement of the financial industry.
FSC holds talks with fintech startups to promote investment and financial supportOct 18, 2022

FSC Standing Commissioner Kwon Dae-young held talks with fintech startups on October 18 to review financing conditions of fintech businesses and listen to their needs regarding investment and loan opportunities. At the meeting, Standing Commissioner Kwon said that financial authorities and government-sponsored financial institutions will prepare measures to support fintechs while taking into account the needs of fintech businesses raised in today's meeting. The FSC plans to hold the next fintech talks with fintech startups that wish to participate in the financial regulatory sandbox program.
Vice Chairman holds 5th financial risk response taskforce meetingOct 13, 2022

Vice Chairman Kim So-young presided over the 5th financial risk response taskforce meeting jointly with relevant institutions on October 13 and held discussions on potential risks of the digitalization and platformization of financial services and response strategies. In his opening remarks, Vice Chairman Kim stated that fintech and big tech firms equipped with digital technologieshave changed the structure of financial marketsaroundtheworld, facilitating innovation in financial services and improving consumer convenience. However, Vice Chairman Kim said that financial authorities need to preemptively respond tothepotential risks in orderto ensure financial stability and consumer protection.
FSC and FSS hold meeting to review financial market conditionsOct 12, 2022

FSC Chairman Kim Joo-hyun presided over a joint financial market monitoring meeting with the Financial Supervisory Service (FSS) on October 12 and discussed the impact of the Bank of Korea's 50bp rate hikeand response strategies. At the meeting, authorities discussed a timely reactivation of the stockmarketstabilization fund, alleviating financing burdens of businesses and ways to help ease the hardship of vulnerable sectors amid high prices, high interest rates and the weakeningcurrency value.
Vice Chairman delivers congratulatory remarks at opening ceremony of SME accounting support centerOct 12, 2022

Vice Chairman Kim So-young attended the opening ceremony of the SME accounting support center set up at the Korea Exchange on October 12 and delivered congratulatory remarks. During his speech, Vice Chairman Kim expressed his hope that the center will play an active role in providing effective assistance to SMEs and serving as an educational platform for accounting and auditing standards. In this regard, Vice Chairman Kim said that the government will spare no efforts to provide policy support through an overhaul of accounting regulations. The SME accounting support center will respond to inquiry on accounting standards, provide consulting on financial statements preparation and offer help with difficulties related to audit contracts.
FSC and KAMCO launch New Start Fund to support recovery of small merchants and self-employedOct 04, 2022

The FSC and the Korea Asset Management Corporation (KAMCO) launched New Start Fund and held an MOU signing event on October 4. FSC Chairman Kim Joo-hyun attended the event and said that New Start Fund will help support the recovery of the pandemic-hit small merchants and self-employed business owners while helping to prevent social, economic and financial anxieties about insolvency risks. The pandemic-hit businesses wishing to apply for debt adjustment can apply for New Start Fund by visiting one of the 76 on-site locations nationwide from 9:00 am, October 4.
FSC Chairman attends 3rd financial regulatory reform meetingSep 30, 2022

FSC Chairman Kim Joo-hyun attended the 3rd financial regulatory reform meeting held on September 30 and discussed measures to improve regulatory environment for trust businesses, ease accounting burden for SMEs, improve the de-listing rules in capital markets, etc. At the meeting, Chairman Kim spoke about both external and internal uncertainties surrounding domestic financial markets and stressed the need to make efforts to bring about fundamental and structural improvements to domestic financial markets.
FSC holds meeting with the State Bank of Vietnam commemorating 30th anniversary of diplomatic relationsSep 30, 2022

FSC Standing Commissioner Kwon Dae-young visited the State Bank of Vietnam on September 29 for a high-level meeting with SBV Deputy Governor Nguyen Kim Anh, commemorating the 30th anniversary of diplomatic relations between Korea and Vietnam. On September 30, Standing Commissioner Kwon attended the Korea-Vietnam Digital Finance Symposium andintroduced Korea's digital finance policywhilediscussing bilateral cooperation to promote digitalization of Vietnam's financial industry.
FSC and FSS hold financial market monitoring meetingSep 28, 2022

Vice Chairman Kim So-young held a financial market monitoring meeting on September 28 to assess financial market conditions and discuss response strategies. Amid rising volatility in financial markets at home and abroad, Vice Chairman Kim urged authorities to be prepared for timely implementation of market stabilization measures such as the stock market stabilization fund. In addition, Vice Chairman Kim called for quick purchase of corporate bonds and CPs issued by low-rated companies, utilizing the purchase capacity extended at KDB, IBK and Korea Credit Guarantee Fund through the corporate bond market stabilization measures announced on July 13.
FSC Chairman delivers welcoming remarks at 2022 Korea Fintech WeekSep 28, 2022

FSC Chairman Kim Joo-hyun attended the opening ceremony of the 2022 Korea Fintech Week which is held from September 28 to 30 and delivered opening remarks. During his speech, Chairman Kim spoke about the current economic, financial and regulatory environment surrounding the fintech ecosystem and the government's policy measures to promote fintech industry's development through regulatory reforms. After his speech, Chairman Kim took time to see various exhibition booths showcasing innovative fintech services.
FSC holds talks with early-stage fintech startupsSep 27, 2022

FSC Standing Commissioner Kwon Dae-young met with early-stage small- and medium-sized fintech startups on September 27 and held talks on financial regulatory reforms and areas that need to be improved for innovation in financial services. At the meeting, Standing Commissioner Kwon said that the financial authorities will work to provide support through regulatory improvements, expansion in "innovative financial services" and investment and funding while continuing tomaintain close communicationin the future.
FSC Chairman holds meeting on loan maturity extension and payment deferment programSep 27, 2022

FSC Chairman Kim Joo-hyun held a meeting with relevant authorities and financial institutions on September 27 and discussed plans to extend the availability of loan maturity extension and payment deferment for self-employed business owners and SMEs. At the meeting, Chairman Kim said that the purpose of extending the availability of loan forbearance is to help businesses recover their debt service capabilities in practical terms. For businesses facing difficulties in making debt payments on schedule, Chairman Kim said that the availability of debt adjustment program such as New Start Fund will help ease their debt service burdens.