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  • 10 / 10 / 2008
  • Key Issues on Korean Economy

  • This document is prepared with the purpose to explain the following key issues on Korean economy.

    - External Debt
    - Foreign exchange reserve
    - Export
    - Current Account Balance
    - Korean Banks
    - FX Liquidity
    - Policy Responses

  • pdf Key Issues on Korean Economy.pdf
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  • 10 / 09 / 2008
  • FSC/FSS Response to October 8th International Herald Tribune Article ¡°Korean banks forget mistakes¡±

  • FSC/FSS Response to October 8th International Herald Tribune Article ¡°Korean banks forget mistakes¡±

  • pdf Response to IHT article.pdf
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  • 10 / 09 / 2008
  • News Briefing for Foreign Correspondents

  • This document is on Korean banks' soundness in regard to following aspects.

    - Soundness of Domestic Banks

    - Household Mortgages
    - SME Lending
    - Foreign Currency Liquidity

  • pdf SFCC meeting October 9 2008.pdf
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  • 09 / 10 / 2008
  • Response to the September 10th Article in The Times ¡°South Korea heads for black September with won problems"

  • Response to The Times Article ¡°South Korea heads for black September with won problems" , September 10, 2008
  • pdf Response to TT article.pdf
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  • 08 / 25 / 2008
  • FSC¡¯S Policy Efforts for Financial System Advancement and Future Tasks

  • Since the establishment of FSC, instability in the external environment has aggravated due to the sub-prime mortgage related global stock market shock, global investment banks¡¯ fragility, anxiety of stagflation due to combined factors of increased oil price and economic recession. Internally, there have been difficulties in the construction and SME sectors due to the domestic recession. Under such challenging circumstances, FSC has not only provided support to stabilize the domestic financial market, but also to perform an essential role as a growth engine to drive the Korean economy. In particular, FSC is focusing on policies to further develop the financial industry, offer financial support to create a sharing society, and construct a global financial network, among others.
  • pdf 20080825FSC's policy effort.pdf
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  • 07 / 29 / 2008
  • FSC Releases Draft Amendment to the Act on External Audit of Stock Companies

  • The Financial Services Commission organized a joint private-public Task Force (from Apr. to June, 2008) composed of officials from the government/supervisory authority, business representatives and accounting experts to establish an advanced accounting system. The Task Force conducted a rigorous review of major issues relevant to Korea's accounting system and devised improvement measures. Based on the review and a public hearing held on June 4, the FSC drafted the Amendment to Act on the External Audit of Stock Companies and the Amendment to Certified Public Accountant Law.

    Opinions collected during the 20-day announcement period from July 29 to August 17 are to be reflected in the Amendments before submitting them to the upcoming regular National Assembly session after completing relevant procedures like deliberation by the Regulatory Reform Committee/the Ministry of Legislation and the vice ministerial-cabinet meeting. Announcement of the revised Enforcement Decree of the Act on External Audit of Stock Companies is scheduled in August.

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  • 06 / 19 / 2008
  • Memorandum of Understanding between MEF of the Kingdom of Cambodia and FSC of The Republic of Korea

  • The Ministry of Economy and Finance (MEF) of the Kingdom of Cambodia and the Financial Services Commission (FSC) of the Republic of Korea (hereinafter referred to as the ¡°Authorities¡±),

    Desiring to promote co-operation in the field of securities-related and insurance supervision on the basis of equality and mutual benefit,

    Recognizing that such co-operation will promote economic co-operation and enhance the friendly relationship between the two countries.

  • pdf MEF-FSC MOU.pdf
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  • 06 / 13 / 2008
  • FSC/FSS to Host IAIS Triannual Meetings and Global Seminar in Seoul

  • The Financial Services Commission and the Financial Supervisory Service will host the International Association of Insurance Supervisors (IAIS) Triannual Meetings and Global Seminar from June 16 to 20 at the Lotte Hotel in Seoul, Korea.
  • pdf FSS to Host IAIS Triannual Meetings.pdf
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  • 06 / 02 / 2008
  • The Plan for Privatization of KDB and Establishment of KDF

  • The Financial Services Commssion announced on June 2 The Plan for Privatization of KDB and Establishment of KDF. Privatization of KDB is not intended for restructuring of public companies. It is a progressive strategy to develop the financial industry into a new growth engine by turning it into a high value-added industry. Korea Development Fund (KDF), an advanced market-friendly policy financing vehicle to be established with funds from KDB's privatization, will support promising SMEs.

  • pdf 220602 KDB Privitazation Plan.pdf
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