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    New Bill on Supervision of Financial Conglomerates Moves ahead for Enactment

    August 25, 2020
  • The government approved the bill on the supervision of financial conglomerates during a cabinet meeting on August 25, which will be submitted to the National Assembly for enactment at the end of August.
    * Please refer to the attached PDF for details.


    Vice Chairman Discusses Preemptive Responses to Potential Risks amid Growing Uncertainty

    August 24, 2020
  • Vice Chairman Sohn Byungdoo presided over the 18th financial risk assessment meeting on August 24 to review market conditions and monitor the progress in implementing the COVID-19 financial support.
    * Please refer to the attached PDF for details.

    FSC Seeks Innovation in Financial Regulations through Regulatory Sandbox Program

    August 20, 2020
  • The FSC announced recent progress in the operation of the financial regulatory sandbox on August 20. Through its sandbox program, regulatory improvements were made to eight specific areas with five more currently in the process of revision and fourteen more recognized as necessary for reform.

    * Please refer to the attached PDF for details.


    Vice Chairman Speaks about Importance of Maintaining Lending Support by Financial Institutions

    August 19, 2020
  • Vice Chairman Sohn Byungdoo presided over the 17th financial risk assessment meeting on August 19 to review market conditions and monitor the progress in implementing the COVID-19 financial support programs.
    * Please refer to the attached PDF for details.


    Green Finance Task Force Holds Kick-off Meeting

    August 13, 2020
  • Vice Chairman Sohn Byungdoo presided over a kick-off meeting of the green finance task force on August 13. The task force will work to establish a monitoring system for financial risks emanating from climate change, boost investment in green industries and consider the possibility of joining international networks on green finance.
    * Please refer to the attached PDF for details.


    FSC Chairman Meets with Heads of Financial Associations and Urges Close Cooperation

    August 12, 2020
  • FSC Chairman Eun Sung-soo met with heads of financial associations on August 12, and held talks on the progress of the COVID-19 emergency financial support, ways to promote big techs' entrance into the financial services industry while ensuring a framework of fair competition and the role of finance in the government's new deal initiative and the post-pandemic economy.
    * Please refer to the attached PDF for details.


    Household Loans, July 2020

    August 12, 2020
  • The outstanding balance of household loans in all financial sectors rose KRW9.0 trillion from the previous month in July 2020 (up 5.7% year-on-year). The household loan balance increased KRW7.6 trillion in the banking sector and KRW1.4 trillion in the non-banking sector.
    * Please refer to the attached PDF for details.


    Vice Chairman Discusses Importance of Addressing Economic Polarization and Corporate Debt

    August 11, 2020
  • Vice Chairman Sohn Byungdoo presided over the 16th financial risk assessment meeting on August 11 to review market conditions and monitor the progress in implementing the COVID-19 financial support.
    * Please refer to the attached PDF for details.


    FSC Designates Data Specializing Institutions and Introduces Guidelines on Data Convergence

    August 06, 2020
  • The FSC designated the Korea Credit Information Services and the Financial Security Institute as data specializing institutions to perform the task of data convergence on August 6.
    * Please refer to the attached PDF for details.


    30-Day Extension of Reporting Deadline Granted to 15 Companies

    August 05, 2020
  • The Securities and Futures Commission decided on August 5 to lift administrative sanctions and grant a 30-day extension of reporting deadline to all fifteen companies that applied for sanctions exemptions due to pandemic-related disruptions in their business operation.
    * Please refer to the attached PDF for details.