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FSC Chairman holds talks with heads of financial holding groupsFeb 16, 2021

FSC Chairman Eun Sung-soo met with the heads of the financial holding groups on February 16 and held talks on extending the availability of loan deferment of principal and interest payments currently set to expire at the end of March. The participantsagreed on the need to extend the availability of payment deferment for small merchants and SMEs for six more months considering the current COVID-19 situation, conditions in the real economy,etc. During the meeting,Chairman Eun emphasized the importance of maintaining steady support for the real economy and stated that the financial authorities will work on an orderly rollback of the temporary support and deregulatory measures when conditions are permissible. * Please see press release for details.
Vice Chairman holds 6th consultative meeting on digital financeFeb 09, 2021

Vice Chairman Doh Kyu-sang held the 6thconsultative body meeting on digital finance via teleconference on February 9 to discuss ways to improve rules for both fintechs and big techs and to examine areas for further improvements in the financial regulatory sandbox program. In his opening remarks, Vice Chairman Doh said that the FSC will work to create an environment where new digital businesses can be quickly launched and flourish. While working on measures topromoteclose cooperation between fintechs and big techs, Vice Chairman Doh also stated thatthe FSC will seek improvements in the necessary infrastructures. * Please see press release for details.
FSC Chairman delivers congratulatory remarks at a New Deal investment MOU signing eventFeb 04, 2021

FSC Chairman Eun Sung-soo visited Hyundai EV Stationin Seoul on February 4 and delivered congratulatory remarks at an MOU signing event for the promotion of investment cooperation in the areas of future car and industrial digitalization. While discussing the progress made so far in creating a master fund worth KRW510 billion and processing applications and proposalsfrom the prospective fund managers, Chairman Eun talked about the importance of private sector investments in New Deal funds andurged them to continueto look for promising investment projects. * Please see press release for details.
FSC Chairman holds press briefing to announce decision on short-selling banFeb 03, 2021

FSC Chairman Eun Sung-soo held a press briefing on February 3 and announced the decision to extend the short-selling ban until May 2, 2021 and to allow a partial resumption of short-selling from May 3 on KOSPI 200 and KOSDAQ 150 stocks. Inhisstatement, Chairman Eun said that prior to the May 3 partial resumption, the FSC will work on measures to improve the short-selling ruleswhile closely tracking the preparedness of different market participants.As there is growing public interest in the capital markets,Chairman Eun also stated thatthe FSC will work to ensure that individual investors are making their investment decisions with trust in the market. * Please see press release for details.
Vice Chairman holds 33rd financial risk assessment meetingJan 26, 2021

Vice Chairman Doh Kyu-sang held the 33rd financial risk assessment meeting via teleconference on January 26 to discuss key risk factors in 2021 and review the implementation of the COVID-19 lending support for SMEs and small merchants. At the meeting, Vice Chairman Doh talked about a deepening socioeconomic polarization amid the COVID-19 pandemic evidenced by a quick turnaround in corporate earnings while small businesses continue to suffer the consequences of the social distancing rules, etc. As such, Vice Chairman Doh stated that the authorities will work to reduce the wealth gap by continuing to make lending support available through the KRW175 trillion-plus emergency support programs among others. * Please see press release for details.
Vice Chairman holds 3rd green finance taskforce meetingJan 25, 2021

Vice Chairman Doh Kyu-sang held the 3rd green finance taskforce meeting via teleconference on January 25 and unveiled the governments plans to promote green financing in 2021, which include strengthening the role of the public sector, promoting green financing in the private sector and improving the regulatory framework. At the meeting, Vice Chairman Doh emphasized the importance of the governments 2050 zero carbon initiative and called for close cooperation from all financial sectors. * Please see press release for details.
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.