Photo News - Financial Services Commission

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FSC Chairman oversees disaster response and safety management drill in financial sectorOct 28, 2025

Chairman Lee Eog-weon of the Financial Services Commission presided over this year's disaster response and safety management drill in the financial sector on October 28. The FSC is mandated to oversee response measures and procedures in the event of any disasters or accidents taking place in the financial sector, which may have the potential to cause major disruption in national core infrastructures. This year's disaster response and safety management drill took place under the scenario of a fire erupting at the Korea Securities Computing Corporation (KOSCOM) causing a disruption in IT system operation and potentially leading to panic selling. Under this scenario, Chairman Lee convened a central disaster response meeting to review response strategies and action plans. At the meeting, participants also checked each institution's preparedness and discussed measures for improvement under the scenario. At the meeting, Chairman Lee stressed the importance of being thoroughly prepared for disaster situations and urged all participating organizationsto step up efforts to strengthen their own disaster response and prevention capabilities.
FSC Chairman delivers congratulatory remarks at 10th annual finance day commemoration eventOct 28, 2025

Chairman Lee Eog-weon of the Financial Services Commission attended this year's finance day commemoration event on October 28 and delivered congratulatory remarks. The publicly designated day intended to raise the awareness on finance and confer awards to those who have made contributions to the financial industry marks its tenth year this year. In his speech, Chairman Lee spoke about the significance and growing role of finance in people's everyday lives and outlined the government's policy plans to make financial services more reliable, productive, and inclusive. In this regard, Chairman Lee said that the financial sector needs to grow as a platform where financial companies, businesses, and individuals can prosper together and create social values.
FSC Chairman meets with IDB President Ilan GoldfajnOct 24, 2025

Chairman Lee Eog-weon of the Financial Services Commission held a meeting with Ilan Goldfajn, President of the Inter-American Development Bank at his office in Seoul Government Complex on October 24. At the meeting, the two leaders discussed ways to strengthen financial cooperation between the two organizations and between Korea and Latin America and the Caribbeanin the areas of digital finance, green and sustainable finance, and the use of artificial intelligence in the financial sector.
FSC Chairman visits microfinance support centerOct 23, 2025

Chairman Lee Eog-weon of the Financial Services Commission visited the central microfinance support center in Seoul on October 23 and held talks with the center staff on ways to bring about improvements to the current microfinance and debt workout assistance programs. During his visit, Chairman Lee spoke about the importance of closely engaging with the voices on the ground to be able to provide more effective solutions and bring about improvements. After listening to the needs and demands from the center staff, Chairman Lee said that the FSC will closely examine the items and policy tasks raised at today's meeting to be able to incorporate them into rules and legislationfor implementation.
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.