Photo News - Financial Services Commission

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Financial authorities of Korea and Vietnam meet to discuss strengthening cooperation on capital marketsAug 25, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission met with Vietnams Deputy Minister of Finance Nguyen Duc Chi at his office in Seoul Government Complex on August 25 as a follow-up to the bilateral summit meeting held between Korea and Vietnam on August 11, 2025.
Vice Chairman holds meeting on business restructuring in petrochemical industryAug 21, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission held a meeting with major financial industry associations, policy financial institutions, and related organizations on August 21 and discussed key principles behind the provision of financial support for business restructuring in the petrochemical industry. At the meeting, Vice Chairman Kwon spoke about the urgency of undertaking business restructuring in Korea's petrochemical industry as the sector faces dwindling competitiveness overseas. In this regard, the petrochemical industry has jointly demonstrated the willingness to carry out restructuring based on the principles of (a) self-rescue effort, (b) burden sharing, and (c) prompt implementation. Based on the condition of rigorous self-rescue efforts and the demonstration of feasibility in business restructuring plans, the financial sector agreed to provide the financing support needed to meet petrochemical companies' business restructuring goals.
Vice Chairman attends MOU signing for facilitating credit recovery support for vulnerable debtorsAug 20, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission attended the memorandum of understanding (MOU) signing event between financial industry associations and credit information providers on August 20. The MOU will help to facilitate the provision of credit recovery support for individuals and individual business owners in the form of expungement of overdue debt history if they have or will have fully paid off their overdue debts by the end of December this year. It is estimated that up to 3.24 million individuals and individual business owners will benefit from this. With the availability of credit recovery support for those making diligent efforts to pay off their debts, Vice Chairman Kwon said that there will be more individuals and small business owners being able to regain the capacity to quickly return to normal economic activities.
Vice Chairman delivers congratulatory remarks at 2025 joint finance job fair for young adultsAug 20, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission attended the opening ceremony of the 2025 joint finance job fair event held on August 20 and delivered congratulatory remarks. The ninth annual job fair event for young adults this year is being held in the largest scale ever with 80 employers from the financial sector offering career opportunities and employment programs. The event is held for two days from August 20 to 21 at Dongdaemun Design Plaza (DDP) in Seoul, offering a variety of on-site programs including face-to-face job interviews, mock interviews, career consulting, and conference. More than 30,000 jobseekers are expected to attend and participate in these programs. In his congratulatory remarks, FSC Vice Chairman Kwon spoke about the importance of shifting the supply of capital toward more productive sectors and the need for financial companies to actively supply funding opportunities for startups and venture businesses. In addition, Vice Chairman Kwon urged financial companies to expand career and employment opportunities for young adults.
Vice Chairman holds meeting on financial measures to introduce penalties and incentives for preventing serious industrial accidentsAug 19, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission held a meeting with related organizations, financial industry groups, and policy financial institutions on August 19 and discussed the formulation of financial measures to introduce effective penalties and incentives for preventing serious industrial accidents at workplaces. While speaking about the important role of financial companies in preventing serious industrial accidents, Vice Chairman Kwon said that when there is a serious workplace accident taking place at a certain company, it is necessary for the financial sector to proactively manage risks to ensure prudential management and investor protection. In addition, Vice Chairman Kwon said that the risk of serious industrial accidents should be adequately reflected in the corporate credit evaluation process and that more financial incentives through business loans and interest rates should be given to the companies taking more preventive steps.
FSC-FSS-KRX launch joint response team on stock market manipulationJul 30, 2025

Securities and Futures Commission (SFC) Chairman Kwon Dae-young attended the launch of a joint response team on stock market manipulation and the newly created team's signboard unveiling ceremony on July 30. The joint response team is a collaborative operation of the FSC, the FSS, and the KRX, and it aims to bolster the initial response function of KRX's market surveillance committee. At the signboard unveiling event, SFC Chairman Kwon delivered opening remarks where he emphasized the ever growing importanceof capital market at international level and the need to makesure that illegal and unfair trading activities are effectively rooted out. With the establishment of a joint response team, SFC Chairman Kwon said that the physical, informational, and jurisdictional barriers and divisions that previously existed between the three organizations have been effectively removed. In addition, SFC Chairman Kwon said that the financial authorities will also seek to enhance cooperation with investigative authorities to make sure that follow-up criminal investigations and proceedings can take place more swiftly and effectively.
Vice Chairman holds meeting on personal credit management and debtor protectionJul 29, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission held a meeting with related authorities, experts, and microfinance support agencies on July 29 to have discussions on the current personal credit management and debtor protection system and ways to make improvements. While speaking about the importance of ensuringa social safety net for those turning incapable of servicing debts due to unexpected turn of events in life, Vice Chairman Kwon said that excessive debt collection attemptscannot only standin the way of debtors regaining a normal life but alsocanhave adverse effects on the potential of debt collection itself. In Korea, the personal debt workout support system has been predominantly driven by the public sector thus far. However, Vice Chairman Kwon said that it is now time that private financial companies also step up efforts to actively provide their own debt workout and debtor assistance programs. After taking account varioussuggestions and policy ideas raised at today's meeting and examiningoverseas cases, authorities will draw upspecificmeasures to bring about improvements to the current personal credit management and debtor protection system.
FSC unveils plans to set up anti-vishing platform using AI analyticsJul 28, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission presided over a meeting with related authorities, private sector experts, and financial industry associations on July 28 and held talks on plans to step up anti-vishing response efforts and set up a comprehensive anti-vishing platform using artificial intelligence (AI) analytics. In his opening remarks, Vice Chairman Kwon spoke about the importance of ensuring public safety and protection against rapidly spreading vishing scams. In this regard, the FSC and related authorities introduced plans to establish a comprehensive data platform to more effectively combat and quickly respond to vishing scams. The planned anti-vishing platform will make use of artificial intelligence analytics and allow financial companies, telecom service providers, and investigative authorities to instantly share relevant information on suspicious account activities and phone numbers associated with scammers, facilitating authorities to more swiftly freeze account activities and instantly alert consumers about the potential threat of vishing scams. Alongside the launching of an anti-vishing AI platform, the financial authorities will also seek to overhaul the current anti-vishing response system throughout the entire processfrom preventing vishing scams in advance to blocking scams on the spot to providing remedies for victims to boosting advertisement efforts for raising public awareness.
Vice Chairman meets with young entrepreneurs and holds talks on utilizing AI and big data technologies to provide more tailored support for small businessesJul 24, 2025

Vice Chairman Kwon Dae-young of the Financial Services Commission held a meeting with a group of young entrepreneurs, small business industry group, and related financial companies on July 24 and held talks on ways to actively make use of AI and big data technologies in providing more tailored financial assistance for small merchants and self-employed business owners. At the meting, officials discussed plans to introduce "My Business Data" service, which will offer a comprehensive, one-stop credit and business management platform for small businesses. To provide more advantages for small businesses, the Korea Credit Information Services introduced plans to develop a "small business self-ownership database (SDB)" and establish a "small business self-ownership credit bureau (SCB)" to provide more tailoredsupport forcredit assessment. Speaking about the vast opportunities presented by AI and big data technologies, Vice Chairman Kwon said that the FSC will continue to seek ways to resolve problems on the ground and open up opportunities for small merchants while ensuring the safety and stability in data usage.
FSC meets with small business owners in effort to better listen to their needs and deliver more individually tailored supportJul 17, 2025

Secretary General Kwon Dae-young of the Financial Services Commission held a meeting with small merchants, financial companies, and related public authorities and private organizations on July 17 as part ofongoing efforts to boost the effectiveness of financial assistance delivered to small business owners and make the provision of support more tailored to individual business needs. At the meeting, Secretary General Kwon discussed five key policy agendas currently being drawn up and are intended to help small businesses, including a new financing program and measures to bring down burden of interest payment. After having discussions with small businesses today, Secretary General Kwon said that the government and related authorities will be able to upgrade and make improvements to these policy agendas by taking into account key elements of their policy suggestions. To better assist with their challenges and financing needs, the FSC plans to continue to closely communicate with small businesses by having relay meetings on important topics in different regions across the country.
Banks, savings banks, and mutual finance businesses provide public heat shelters at their branch officesJul 15, 2025

Secretary General Kwon Dae-young of the Financial Services Commission visited a local bank branch on July 15 to check on the operation of public heat shelter and have talks on the importance of financial sectors taking up social responsibility by offering public heat shelters at their branch offices. Currently, there are some 9,600 branches providing public heat shelters during their working hours (normally between 09:00 and 16:00). With more financial companies from the mutual finance sector and savings banks pledging to join this effort to boost their social responsibility, it is expected that there will be some 14,000 public heat shelters provided by financial companies across the country. The heat shelters will be made available until the end of August, but depending on locations, they may be open until the end of September. These branches will display signposts to improve consumer convenience and raise public awareness about the availability of heat shelters at their locations.
Authorities hold meeting on small business debt workout programJul 14, 2025

Secretary General Kwon Dae-young of the Financial Services Commission presided over a meeting with officials from related organizations on July 14 to have discussions on the operation of the small business debt workout program (New Start Fund), which wasfirst introduced in thewake of theCOVID-19 pandemic and its expandedsupport andeligibility. With the passage of the second extra budget, KRW700 billion in additional debt workout supporthasbecome newlyavailable for vulnerable debtors. In this regard, related organizations will promptly move to implement the program's expanded eligibility from September this year.