Photo News - Financial Services Commission

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FSC Chairman visits local banks to encourage lenders with effective provision of the small merchant lending supportJan 20, 2021

FSC Chairman Eun Sung-soo visited local banks on January 20 to check the provision of the newly upgraded small merchant lending support. During his visits, Chairman Eun expressed his gratitute to local lenders for their cooperation and agreement in providing a reduction in interest rates on the small merchant lending support programs, while urging them to strictly adhere to the social distancing rules and virus prevention measures.* Please refer to the attached PDF for details.
FSC Chairman delivers congratulatory remarks at a public-private joint investment agreement ceremonyJan 19, 2021

FSC Chairman Eun Sung-soo visited SK Hynix’s Icheon campus on January 19 and delivered congratulatory remarks at a public-private joint investment agreement ceremony held for the mutual cooperation between SK Hynix, the Korea Development Bank, Export-Import Bank of Korea and NH Nonghyup Bank in raising a total of USD3 billion between 2021 and 2025. During his remarks, Chairman Eun highlighted the significance of the joint investment agreement and stated that there should be continuous efforts at making investments in future-oriented projects.* Please see press release for details.
FSC Chairman holds press briefing on financial policy agenda for 2021Jan 19, 2021

FSC Chairman held a virtual press briefing on January 18 to discuss the financial policy achievements over the past four years and announce the government's financial policy agenda for 2021, which include—(a) maintaining the COVID-19 financial support and managing potential risks, (b) pursuing New Deal financing and promoting green finance, (c) promoting financial innovation and digital finance and (d) working on financial consumer protection and strengthening support for vulnerable groups.* Please see press release for details.
Vice Chairman holds meeting on improving corporate disclosure rulesJan 14, 2021

Vice Chairman Doh Kyu-sang held a meeting with industry officials and experts via teleconference on January 14 and discussed the government’s plans to improve rules on corporate disclosure. The key improvements will be made on the following areas―(a) improving investor convenience in using disclosure information, (b) reducing compliance burdens for businesses, (c) promoting ESG/responsible investing and (d) closing loopholes in disclosure system and improving rules on penalties.* Please see press release for details.
Vice Chairman holds 32nd financial risk assessment meetingJan 12, 2021

Vice Chairman Doh Kyu-sang held the 32nd financial risk assessment meeting via teleconference on January 12 to review the progress of the COVID-19 financial support programs for small merchants and SMEs. During his opening remarks, Vice Chairman Doh pledged to ensure the availability of continuing financial support for small merchants and SMEs in 2021 and stated that strict adherence to the social distancing and preventive measures should take place for a successful economic recovery.* Please see press release for details.
Vice Chairman holds talks on boosting innovation and vitality in financial industryJan 06, 2021

Vice Chairman Doh Kyu-sang held a teleconference meeting with experts from consulting firms and financial institutions on January 6 and discussed the financial industry’s outlook for this year while sharing opinions on policy suggestions. During his opening remarks, Vice Chairman Doh touched upon the progress made in terms of regulatory reform in digital finance areas and stated that the government will continue to work on improving rules and regulations in 2021 to make them more predictable and reasonable.* Please see press release for details.
FSC Chairman attends 2021 stock market opening ceremonyJan 04, 2021

FSC Chairman Eun Sung-soo attended the 2021 Korean stock market opening ceremony at the Korea Exchange on January 4 and delivered congratulatory remarks. Speaking about the hardship presented by the COVID-19 pandemic in 2020, Chairman Eun praised the strength of markets as KOSPI closed at a record high of 2,873 points on December 30 and retail investors net bought more than KRW60 trillion last year. In 2021, Chairman Eun stated that the government will work on (a) responding to ongoing uncertainties, (b) broadening the investor base, (c) restoring investor confidence and (d) building a virtuous cycle between the real economy and financial sectors.
FSC Chairman holds virtual meeting to assess implementation of COVID-19 financial support programsDec 21, 2020

FSC Chairman Eun Sung-soo held a meeting via teleconference on December 21 to assess the implementation of the COVID-19 financial support programs and discuss the 2021 financial policy direction.Speaking about the protracted pandemic situation and the next year’s financial policy direction, Chairman Eun stressed the importance of strict compliance with virus prevention measures and urged cooperation from all financial sectors.Chairman Eun also called for financial institutions to take a leading role in the country’s transition toward a “first mover” economy in the post-pandemic era.* Please see press release for details.
FSC Chairman holds press briefing and discusses policy outline for next yearDec 14, 2020

FSC Chairman Eun Sung-soo held a virtual press briefing on December 14 and discussed key policy plans for the next year. Chairman Eun stated that a successful financial market turnaround in Korea was made possible due to the effectiveness of K-quarantine and economic response measures on top of strong corporate earnings performance. Speaking on the next year's focus, Chairman Eun indicated that (a) overcoming the pandemic crisis, (b) ensuring effective implementation and generating outcomes and (c) maintaining close communication with all stakeholders as key policy tasks.* Please see press release for details.
Vice Chairman holds meeting on insurance businesses to prepare for implemention of IFRS 17Nov 30, 2020

Vice Chairman Doh Kyu-sang held a virtual meeting on November 30 to discuss ways to improve rules on insurance businesses in preparation for the implementation of IFRS 17 in 2023. At the meeting, Vice Chairman Doh announced the FSC's plans to set up a task force on thisissue and to introduce a revision bill to the Insurance Business Act to the National Assembly during the first half of 2021. * Please see press release for details.
Vice Chairman holds 30th financial risk assessment meetingNov 26, 2020

Vice Chairman Doh Kyu-sang held the 30th financial risk assessment meeting via teleconference on November 26 to check the implementation of the COVID-19 emergency financial support programs. At the meeting, Vice Chairman Doh also discussed the current financial market conditions and potential risks, credit lending in the banking sector and the government's plans to extend the period of support available for vulnerable debtors. * Please see press release for details.
Vice Chairman holds meeting on future outlook and competitiveness of financial industryNov 25, 2020

The FSC held a meeting on the future outlook and competitiveness of the financial industry chaired by Vice Chairman Doh Kyu-sang on November 25. A new twelve-member expert review committee has been set up to lead the future outlook and competitiveness assessment of the financial industry. The assessment will focus on lowering entry barriers into the financial industry and building financial infrastructures appropriate for the 4th industrial revolution era. * Please see press release for details.