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Vice Chairman holds meeting on insurance businesses to prepare for implemention of IFRS 17

    Vice Chairman holds meeting on insurance businesses to prepare for implemention of IFRS 17

    November 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 this issue 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 meeting

    Vice Chairman holds 30th financial risk assessment meeting

    November 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 industry

    Vice Chairman holds meeting on future outlook and competitiveness of financial industry

    November 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.

Vice Chairman holds 29th financial risk assessment meeting

    Vice Chairman holds 29th financial risk assessment meeting

    November 13, 2020
  • Vice Chairman Doh Kyu-sang presided over the 29th financial risk assessment meeting on November 13. At the meeting, Vice Chairman Doh unveiled the government's plans to more effectively manage household debt and discussed the implementation of the COVID-19 financial support programs. In Q1 2021, the government will introduce measures to more effectively manage household debt, which will focus on tightening the DSR rules.
    * Please see press release for details.

Vice Chairman holds 4th consultative body meeting on digital finance

    Vice Chairman holds 4th consultative body meeting on digital finance

    November 12, 2020
  • Vice Chairman Doh Kyu-sang presided over the 4th consultative body meeting on digital finance on November 12 and laid out the following three key principles for the MyData industry--(a) guaranteeing consumer rights to data ownership, (b) improving safety and scalability of MyData services and (c) creating a cooperative ecosystem for all stakeholders. At the meeting, Vice Chairman Doh stressed the importance of boosting communication and cooperation between all stakeholders to come up with mutually beneficial solutions.

    * Please see press release for details.

FSC Chairman attends 1st round of Korean New Deal IR event

    FSC Chairman attends 1st round of Korean New Deal IR event

    November 06, 2020
  • FSC Chairman Eun Sung-soo attended the first round of the Korean New Deal investment information event held on November 6 and delivered congratulatory remarks. The first round IR event focused on Digital New Deal sectors, such as data analytics, 5G and AI technologies. During his speech, Chairman Eun explained the key details and expected benefits of the K-New Deal fund.

FSC Chairman attends National Economic Advisory Council meeting

    FSC Chairman attends National Economic Advisory Council meeting

    November 06, 2020
  • FSC Chairman Eun Sung-soo attended a National Economic Advisory Council meeting on November 6 and spoke about the important role of finance in promoting innovation and preparing for a post-pandemic era. Chairman Eun also discussed the advantages of the Korean New Deal fund and the FSC's plans to promote movable asset-based financing for innovative businesses.
    * Please see press release for details.

FSC Chairman holds market monitoring meeting

    FSC Chairman holds market monitoring meeting

    November 06, 2020
  • FSC Chairman Eun Sung-soo held a meeting to review the effects of the US presidential election on financial markets at home and abroad on November 6. As there are possibilities of growing market volatilities in the financial markets in the wake of the US presidential election, the FSC will continue to stay alert and closely monitor market conditions.
    * Please see press release for details.

FSC Chairman delivers congratulatory remarks at the 5th finance day celebration event

    FSC Chairman delivers congratulatory remarks at the 5th finance day celebration event

    October 27, 2020
  • FSC Chairman Eun Sung-soo attended the 5th finance day celebration event held on October 27 in Seoul and delivered congratulatory remarks. During his speech, Chairman Eun spoke about the importance of maintaining stability in the financial markets amid growing demand for contactless services and rising market volatility. With digital transformation taking place rapidly, Chairman Eun also touched upon the significance of innovation and inclusion in financial sectors.

Vice Chairman holds 3rd consultative body meeting on digital finance

    Vice Chairman holds 3rd consultative body meeting on digital finance

    October 21, 2020
  • Vice Chairman Sohn Byungdoo presided over the 3rd consultative body meeting on digital finance on October 21. At the meeting, Vice Chairman Sohn discussed ways to promote an advancement of the open banking system and difficulties faced by fintechs and big techs in a quickly changing digital environment. In order to further develop the open banking system, Vice Chairman Sohn said that the government will work to (a) boost scalability, (b) promote reciprocity and (c) enhance security and risk management.
    * Please see press release for details.