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FSC Chairman visits local bank to check provision of tailored support for small merchants made available by banking sectMay 08, 2025

Chairman Kim Byoung Hwan of the Financial Services Commission visited a local bank on May 8 to check the provision of tailored financial support for small merchants made available by the banking sector and hold talks with officials from related organizations. Since the announcement was made by the banking sector to provide tailored assistance for small merchants in a more sustainable way last December, banks have introduced four major tailored support programs for small merchants in April this year in the form of debt restructuring, refinancing, new loans and guarantees, and consulting. While speaking about the importance of these programs, Chairman Kim also stressed the need to boost education and advertisement to make sure that the availability of these support programs is widely known to small merchants.
Vice Chairman delivers keynote speech at capital market seminar hosted by KCMIMay 08, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission attended a policy seminar on the advancement of capital markets hosted by the Korea Capital Market Institute on May 8 and delivered a keynote address on the progress of capital market reform agendas and policy tasks going forward. In his speech, Vice Chairman Kim outlined some of the major achievements seen thus far in the areas of four key policy pillars, which include (a) boosting the accessibility of capital markets, (b) establishing corporate management practices centered on shareholder values, (c) enhancing the fairness and transparency in markets, and (d) strengthening the innovative capability of capital markets. In this regard, Vice Chairman Kim said that abolishing foreign investors' prior registration requirement, mandating English language corporate disclosures for companies, and introducing an alternative trading system are some of the achievements.
Vice Chairman visits KINFA's one-stop youth finance support centerApr 29, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission visited the one-stop youth finance support center operated by the Korea Inclusive Finance Agency (KINFA) on April 29 and held talks on ways to more effectively provide assistance for young adults. During the visit, Vice Chairman Kim took time to observe how consultation is being provided for those interested in signing up for the youth savings account program and held talks with a group of young adults on their challenges and difficulties to seek better ways to make financial assistance available for them. As the number of subscribers to the youth savings account program is soon expected to reach two million in cumulative terms, Vice Chairman Kim said that the government and related organizations will continue to make efforts to enhance the convenience and utility of the program to help make it an important source of asset accumulation for young adults.
Vice Chairman presides over financial education council meetingApr 25, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission presided over this year's first financial education council meeting on April 25 with officials from related ministries and private sector experts. At today's meeting, members of the council discussed ways to strengthen cooperation between related organizations and bolster support for the provision of a financial education course offered as part of the secondary school curriculum. At the meeting, Vice Chairman Kim highlighted the importance of providing financial educationas part of high school curriculumas it can help to broaden the knowledge of young people and enable them to make rational decisions in their economic activities. Furthermore, Vice Chairman Kim said that financial education can also help to enhance the overall inclusiveness of financial markets.
FSC Chairman visits Boston and New York to strengthen financial cooperationApr 23, 2025

Chairman Kim Byoung Hwan of the Financial Services Commission traveled to Boston and New York, the United States on April 21-22. On April 21, Chairman Kim visited the Korea Health Industry Development Institute (KHIDI)'s U.S. office in Boston's biotech cluster and held a meeting with the investment companies and Korean biotech firms operating in the U.S. to seek insights on ways to bring about regulatory improvements to promote Korea's biotech venture investment. In Boston, Chairman Kim also visited AVEO Oncology, a U.S.-based biopharmaceutical company owned by LG Chem, and held talks on policy tasks to more effectively support Korea's biotech venture ecosystem. On April 22, Chairman Kim visited New York andhad a meeting with Blackstone Chairman and CEO Stephen Schwarzman.
Vice Chairman presides over ESG finance taskforce meetingApr 23, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission presided over the 5th ESG finance taskforce meeting on April 23 to review global trends (the EU's Omnibus Package) on sustainable disclosure standards and the progress in formulating domestic disclosure standards. In his opening remarks, Vice Chairman Kim discussed the importance of establishing domestic disclosure standards and roadmap that take into account relevant developments in major overseas countries. At the meeting, participants discussed the EU's Omnibus Package, Japan's final disclosure standards, and relevant developments in major countries, such as the U.K., the U.S., and Canada. The taskforce plans to continue to work on preparing domestic disclosure standards and roadmap that will be consistent with global standards, readily embraced by businesses, and useful for information purposes.
Vice Chairman holds media briefing on capital market reform initiativesApr 21, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission held a media briefing on the government's capital market reform initiatives and future plans on April 21. During his presentation of key outcomes and progress of capital market reform agendas, Vice Chairman Kim touched upon some of the major improvements achieved so far and spoke about the importance of making persistent efforts to upgrade relevant rules and regulations to continuously seek improvementsfor both investors and businesses.
Vice Chairman holds meeting and discusses ways to make financial services more accessible for people with disabilitiesApr 15, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission presided over a meeting with related organizations and industry groups on April 15 and held discussions on ways to make financial services more accessible for people with disabilities. In his opening remarks, Vice Chairman Kim outlined the government's three major policy directions intended to make financial services more accessible for people with disabilities and spoke about the importance of making financial services more inclusive. In this regard, Vice Chairman Kim said that the government will seek to (a) resolve inconveniences in financial transactions experienced by those with disabilities, (b) promote the development of more tailored services and products for those with disabilities, and (c) work to prevent fraudulent activities and financial crimes targeting people with disabilities.
FSC and Busan Metropolitan City Government sign MOU on one-stop financial and welfare assistance programApr 11, 2025

Chairman Kim Byung Hwan of the Financial Services Commission and Mayor Park Heong-joon of the Busan Metropolitan City Government signed a memorandum of understanding (MOU) on April 11 to enhnace cooperation in facilitating the provision of comprehensiveone-stopfinancial and welfare assistance program to local residents in Busan. Various microfinance assistance programs will be made available in Busan as officials plan to make visits to different districts in Busan to offer face-to-face consulting services. While speaking about the importance of maintaining cooperation with local governments to boost the effectiveness of policy implementation, Chairman Kim said that the FSC and related financial organizations will closely cooperate with the Busan Metropolitan City Government in providing practical assistance to help vulnerable individuals to recover and regain footing financially.
FSC Chairman attends 3rd fintech open networking dayApr 10, 2025

Chairman Kim Byoung Hwan of the Financial Services Commission attended the 3rd fintech open networking day held on April 10 and delivered a speech highlighting the importance of deepening cooperation between financial companies and fintech businesses. While speaking about the importance of providing support for the scale-up and overseas expansion of fintech services, Chairman Kim said that the financial authorities will continue to work to remove regulatory barriers and facilitate financial holding companies to more actively invest in fintech businesses. Various financial companies along with Fintech Center Korea participated in the event and presented their plans to provide assistance for fintech businesses in their overseas business expansion efforts.
Vice Chairman holds meeting to monitor progress of Personal Credit Management and Debtor Protection ActApr 09, 2025

Vice Chairman Kim Soyoung of the Financial Services Commission presided over a meeting with officials from related organizations and industry groups on April 9 to discuss the progress of implementing the Personal Credit Management and Debtor Protection Act. This law provides strengthened protections for individual debtors throughout the entire process of personal debt management. Between October 17, 2024 when the law became effective until March 14, 2025, the number of debt workout applications filed with financial companies stood at 56,005, and among them, 44,900 cases have entered into debt workout programs. To actively promote the use of personal debt management services made available by financial sectors, Vice Chairman Kim said that is it crucial to maintain close communication and cooperation between the financial authorities and the financial industry. Meanwhile, the six-month grace period granted for implementing this law will be lifted according to initially set schedule on April 16, 2025.
FSC Chairman holds meeting with CEOs of securities businessesApr 09, 2025

Chairman Kim Byoung Hwan of the Financial Services Commission held a meeting with the CEOs of ten major comprehensive financial investment business entities (CFIBEs) and introduced the government's plans to improve the competitiveness of corporate financing by securities firms on April 9. In his opening remarks, Chairman Kim underscored the important role of capital markets in making sure that our economy maintains vitality and continues to grow in the future. In this regard, Chairman Kim said that the plans being introduced today are intended to boost the role of securities businesses in corporate financing. While speaking about theneed to seek innovation in their business operations and actively participate in value-up efforts, Chairman Kim said that securities businesses need to also strengthen risk management and internal control practices. To promote innovation and ensure stability in the capital markets, Chairman Kim called for close cooperation between the financial authorities and the securities business sector.