Photo News - Financial Services Commission

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FSC Chairman Koh Seungbeom meets with Bank of Korea Governor Lee JuyeolSep 03, 2021

FSC Chairman Koh Seungbeom held his first meeting with the Governor of the Bank of Korea Lee Juyeol in his capacity as the chairman of the FSC on September 3. Chairman Koh and Governor Lee exchanged views on wide-ranging issues surrounding the current economic and financial situations and raised the same voice on the importance of maintaining close cooperation and communication between the two institutions. In particular, Chairman Koh and Governor Lee shared the same view on the urgency to address the buildup of financial imbalances, the necessity to closely coordinate in order to prepare for a global policy shift and to continue to maintain pandemic support for vulnerable sectors. Chairman Koh and Governor Lee agreed to meet regularly and maintain close communication through diverse channels.
FSC Chairman Koh Seungbeom meets with FSS Governor Jeong Eun-boSep 02, 2021

FSC Chairman Koh Seungbeom held a meeting with the governor of the Financial Supervisory Service Jeong Eun-bo on September 2 and discussed ways to strengthen cooperation and communication between the two institutions. During the meeting, Chairman Koh and Governor Jeong agreed to take preemptive measures in response to potential risk factors surrounding the current economic and financial situations, such as the growth in household debt and changes taking place amid digital transformation in the financial sector. Chairman Koh and Governor Jeong agreed to meet regularly in the future to better communicate and strengthen cooperation for the common goal of advancing the financial system.
Mr. Koh Seungbeom takes office as the 8th chairman of the FSCAug 31, 2021

Mr. Koh Seungbeom took office as the 8th chairman of the Financial Services Commission on August 31, 2021. During his inaugural speech, Chairman Koh talked about the importance of formulating financial policies that can be effective in addressing problems in real life and of maintaining close communication and cooperation with relevant institutions in order to devise policies that are well balanced.
FSC Chairman meets with financial industry group leaders to discuss credit recovery support for individualsAug 11, 2021

FSC Chairman Eun Sung-soo met with the heads of financial industry groups and other relevant officials on August 11 and held talks on the necessity of credit recovery support for individuals struggling through the COVID-19. Amid an ongoingCOVID-19 situation,Chairman Eunstated thatcredit recoverysupport for individualsis neededto help prevent vulnerable individualsandindividual business owners from facing the risk of a credit score downgrade.All financial sectors pledged active cooperation on this matter. * Please see press release for details.
FSC Chairman holds talks with financial holding group CEOsAug 10, 2021

FSC Chairman Eun Sung-soo met with the heads of five financial holding groups on August 10 and held talks on creating quality jobs for young adults in financial sectors, managing household debt levels and maintaining COVID-19 financial support. At the meeting, Chairman Eun discussed the importance of creating quality jobs in financial sectors as rapid transition to a digital economy can lead to diminishing employment opportunities in financial sectors. In this regard, Chairman Eun noted that the growth of fintechs hasled to the creation ofmany quality jobs that are desirable for young adults.On the issue of COVID-19 financial support, Chairman Eun emphasized the importance of maintaining a right balance between continuing to make support available and preemptively managing risks, such as household debt. * Please see press release for details.
FSC Chairman visits a financial call center and calls for strict adherence to level 4 distancing measuresJul 28, 2021

FSC Chairman Eun Sung-soo visited Lotte Card'scall centeroffice in Seoul on July 28 to check the call center's compliance to the level 4 social distancing measures. During his visit, Chairman Eun talked about the importance of financial institutions adhering to their own business continuity plans to ensure a seamless service provision amid the pandemic. Chairman Eun also expressed his concern about the rapidly rising level of nonbank loans and called for strong risk management.
FSC Chairman speaks on the significance of new microloan service provided by banksJul 01, 2021

FSC Chairman Eun Sung-soo attended the MOU signing ceremony between the Korea Inclusive Finance Agency, Korea Federation of Banks and thirteen banks on July 1 for the launching of a new microloan service offered through banks. At the event,FSC Chairman Eun Sung-soodelivered a keynote address andspoke about the significance of the new microloan service becoming available in the banking sector while emphasizingthe need to effectively manage household debt.With the possibility of interest rate hikes in near future,Chairman Eun said thatit is crucial to manage household debt and be prepared for risks byspreading and sharingthe burden of interest rate hikes. * Please see press release for details.
FSC Chairman delivers opening remarks at the Green Finance Special Session of P4G Seoul SummitMay 29, 2021

FSC Chairman Eun Sung-soo attended thegreen finance special session of the P4G Seoul Summit held on May 29 and delivered opening remarks. During his speech, Chairman Eun emphasized the urgency in global action andcooperation in response toclimate change and outlined the significant role of finance inrealizing carbon neutral goals. In specific, Chairman Eun touched upon Korea's green finance strategies, such as strengthening corporate disclosures of ESG factors, and talked aboutchallenges faced by the international society, including the funding gap, data gap and the gap between developed and developing countries. In closing, Chairman Eun once againstressed the importance of collective action and globalpartnerships. * Please see press release for details.
FSC Chairman delivers welcoming remarks at the operning ceremony of 3rd Korea Fintech WeekMay 26, 2021

FSC Chairman Eun Sung-soo delivered welcoming remarks at the opening ceremony of the 2021 Korea Fintech Week on May 26. Chairman Eun opened up his speech by talking about rapid development of the fintech industry which led to a dramatic transformation of the financial industry around the world. While discussing some of the progress, such as building necessary infrastructure for digital innovation, Chairman Eun also talked about Korea's future plan to boost fintech growth and spur digital innovation in finance. * Please see press release for details.
FSC and 13 other institutions jointly declare support for TCFD and its recommendationsMay 24, 2021

Vice Chairman Doh Kyu-sang presided over a kick-off meeting of the green finance consultative body on May 24. At the meeting, the FSC and thirteen other relevant institutions joined to announce their declaration ofsupport for the Task Force on Climate-related Financial Disclosure and its recommendations. During his opening remarks,Vice Chairman Doh spoke about the significance of the joint declaration and stated that the FSC will actively participate in global discussions to help transform climate change risks into new opportunities and continue to promote green finance. * Please see press release for details.
FSC holds policy workshop to discuss progress of policy implementation and tasks aheadMay 24, 2021

Vice Chairman Doh Kyu-sang presided over a policy workshopon the progress of financial policy implementation of the Moon Jae-in administration at its fifth year on May 20, discussing some of the key policy achievements made in the past four years as well as the remaining tasks. The policy workshop was attended by all FSC employees and key members of the financial development review committee. Due to social distancing measures, the vast majority ofFSCemployees took part through YouTube live broadcast. * Please see press release for details.
FSC and FSS Apply for NGFS MembershipMay 20, 2021

FSC Chairman Eun Sung-soo and first senior deputy governor Kim Keun-ik of FSS signed the application for the membership to the Network of Central Banks and Supervisors for Greening the Financial System (NGFS) on May 17. By joining the NGFS, the financial authorities plan to actively participate in and contribute to the global discussions on green finance and enhance policy alignment of Korea's green finance strategies with global standards. * Please see press release for details.