Photo News - Financial Services Commission

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FSC Chairman holds meeting on boosting efforts to facilitate growth of local economiesOct 22, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with officials from policy financial institutions, industry associations, and local businesses in Busan on October 22 to have discussions on ways to boost the role of finance in facilitating the growth of local economies. At the meeting, Chairman Lee stressed the importance of seeking a transition toward productive finance and said that boosting the role of financial sector in support for local economies is a major part of that effort. To that end, Chairman Lee said that policy financial institutions will expand the supply of financing programs tailored to the needs of local economies by about KRW25 trillion a year by 2028. In addition, to encourage banks, mutual finance businesses, and savings banks in the private sector to increase their supply of financing to local economies, the FSC will consider ways to ease rules on their loan-to-deposit spreads and to provide stronger incentives. There will also be efforts to boost venture investment and foster vibrant startup ecosystems in local economies.
FSC Chairman holds meeting with insurance businesses and discusses transition toward productive financeOct 16, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with insurance businesses for the first time since taking office and held discussions on ways to propel a transition toward productive finance on October 16. In his opening remarks, Chairman Lee spoke about the importance of the insurance industry seeking growth on a long-term horizon and making sure that the industry can regain confidence from the public. Chairman Lee also said that insurance companies' long-term asset management function makes them uniquely situated to contribute to the establishment of a virtuous cycle between a reliable finance (prudential management) and a productive finance. While stressing the importance of consumer protection as an immutable value and principle in insurance services, Chairman Lee urged insurance businesses to strengthen internal control and foster a culture of responsibility centered on consumer needs.
FSC Chairman holds meeting on propelling transition toward more consumer-focused financial industryOct 15, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with financial consumer groups, microfinance experts, and financial industry associations on October 15 to have discussions on facilitating a transition toward a more consumer-oriented financial industry. At the meeting, Chairman Lee outlined four major policy directions to make financial policy-making more consumer-oriented. First, a financial consumer policy review committee will be newly established with participation from consumers and private sector experts. Second, with regard to consumer damage and loss, there will be efforts to strengthen both preventive and remedial measures through improvements to financial companies' governance apparatus. Third, there will be an expansion in the availability of microfinance support intended for lower income households and vulnerable groups. Fourth, there will be efforts to actively counter and root out financial crimes and illicit activities targeted at vulnerable groups, such as illegal private lending and vishing scams. While speaking about the importance of having concerted efforts from all stakeholders, Chairman Lee urged all participants to maintain close communication and cooperation to enhance consumer protection and microfinance support.
FSC Chairman holds meeting on cybersecurity and IT infrastructure with related financial institutionsOct 02, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting on ensuring cybersecurity and safety in IT infrastructure in the financial sector with officials from related financial institutions on October 2. In the wake of recent cyberattacks and IT infrastructure damages affecting the financial sector, Chairman Lee urged officials to make sure to closely examine and inspect their own cybersecurity and IT infrastructures. At the meeting, Chairman Lee also discussed key policy aims to make the financial industry more productive, consumer-oriented, and reliable to be able to support a sustainable growth in our economy.
FSC Chairman delivers congratulatory remarks at "New Leap Fund" launching eventOct 01, 2025

Chairman Lee Eog-weon of the Financial Services Commission attended the launching event for "New Leap Fund," a new long-term debt restructuring program for small merchants and vulnerable groups, and delivered congratulatory remarks on October 1. Speaking about the significance of "New Leap Fund" as more than just a debt workout program, Chairman Lee said that this program will provide a new foundation to leap forward for many of those who have not been able to engage in normal economic activities due to their delinquent debt status. To prevent moral hazard in the future, Chairman Lee said that authorities will make sure to carry out rigorous evaluations on debtors' repayment capabilities. Chairman Lee also said that authorities will work to expand support for those who have been diligently making debt payments but fall outside the qualification under this program.
Financial support framework established to facilitate restructuring of petrochemical industrySep 30, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission attended a meeting with major banks and policy financial institutions on September 30 where creditor institutions agreed to provide financial support needed to facilitate restructuring of the petrochemical industry. At the meeting, Vice Chairman Kwon spoke about the significance of creditor institutions coming together and showing concerted efforts in support for the struggling petrochemical industry. The creditor institutions plan to provide financial support in the form of maturity extension, interest rate adjustment, and new loans conditioned upon the viability of business restructuring plan and rigorous self-rescue efforts demonstrated by companies.
FSC Chairman meets with banking sector and discusses ways to seek transformation toward productive financeSep 29, 2025

Chairman Lee Eog-weon of the Financial Services Commission on September 29 met with the banking sector for the first time since assuming office and held talks on financial policy directions seeking to transform the industry toward productive finance. To facilitate banks to boost their productive finance drives, Chairman Lee said that authorities will continue to work on making improvements to capital regulations to encourage banks to supply more capital to productive sectors. With regard to the transition toward a more consumer-oriented approach, Chairman Lee asked banks to play a more active role in providing assistance to debtors and making contributions to the long-term debt restructuring program expected to be launched soon. At the same time, Chairman Lee also stressed the importance of ensuring rigorous management over household debt and supporting the restructuring of key strategic industries. In a move to enhance transparency and seek transformation toward a more consumer-oriented approach, Chairman Lee pledged to continue to maintain close communication and cooperation with the banking sector.
FSC Chairman and FSS Governor meet and vow to strengthen financial consumer protectionSep 29, 2025

Chairman Lee Eog-weon of the Financial Services Commission met with Governor Lee Chanjin of the Financial Supervisory Service on September 29 and held discussions on ways to upgrade financial administration and supervision with aims to strengthen protection for financial consumers. At the meeting, both leaders showed strong willingness to revamp the financial administrative and supervisory work with goals to make the consumer protection function more effective and transparent. To this end, the FSC and the FSS will each carry out internal overhaul to strengthen consumer protection as a key national policy initiative. In doing so, the financial authorities will carry out administrative and supervisory duties while focusing on the actual needs and demands of consumers. Going forward, the leaders also pledged to work closely as a one team.
Vice Chairman holds meeting on strengthening capacity and resilience against cyberattacks in financial sectorSep 23, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting on enhancing information security across all financial sectors on September 23. The meeting was attended by some 180 chief information security officers representing financial companies acrossall sectors. In his opening remarks, Vice Chairman Kwon spoke about the importance of making sure that chief executives of financial companies take the responsibility of ensuring information security and protecting customers' privacy data. In this regard, Vice Chairman Kwon said that financial companies should re-examine their current data security systems and protocols and always keep their business continuity plans up-to-date to strengthen the capacity and resilience against cyberattacks.
FSC Chairman presides over inaugural meeting on productive financeSep 19, 2025

Chairman Lee Eog-weon of the Financial Services Commission presided over the inaugural meeting on transforming the financial industry and seeking a transition toward productive finance on September 19. Todays meeting was joined by industry representatives from different regions and officials from different business sectors and sizes who shared their ideas and suggestions in collaborative efforts to seek growth in both the real economy and financial sectors.In his opening remarks, FSC Chairman Lee said that the Korean economy is currently standing at an inflection point where the role of finance is considered to be ever more critical in providing solutions to various problems, such as low growth and wealth gap, and rebooting growth in the economy. To seek a transition toward productive finance, Chairman Lee introduced plans to pursue transformation of the following three areaspolicy finance, financial business, and capital markets.
Vice Chairman holds meeting on debt adjustment program for small merchants and self-employed business ownersSep 18, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting on New Start Fund, a debt adjustment program intended for small merchants and self-employed business owners, with officials from related organizations and industry groups on September 18. At the meeting, the FSC and related organizations introduced plans to broaden the current eligibility criteria for debt adjustment support and strengthen assistance especially for lower income and/or socially vulnerable groups. With these measures in place, Vice Chairman Kwon said that more micro-enterprises and self-employed business owners will be able to receive support more quickly. While speaking about the importance of maintaining cooperation among related organizations to ensure a seamless operation of the debt adjustment support program, Vice Chairman Kwon also said that it is necessary for consumer credit businesses to boost social responsibility.
FSC Chairman and FSS Governor meet for first time and pledge to strengthen cooperationSep 16, 2025

Chairman Lee Eog-weon of the Financial Services Commission and Governor Lee Chanjin of the Financial Supervisory Service held a meeting on September 16 for the first time since taking office and had talks on the importance of maintaining consistency in pursuing financial policies and regulatory duties. At the meeting, the two leaders discussed the need to seek productive finance, expand inclusive finance, and boost risk management in the financial industry, while pledging to bolster cooperation between the two organizations.