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Vice Chairman holds meeting on improving rules for reinsurance businessesJun 11, 2020

Vice Chairman Sohn Byungdoo held a meeting on June 11 to discuss ways to improve the current rules on reinsurance businesses. The meeting discussed the establishment of reinsurance business as a separate business category outside the current non-life insurance business category, requiring insurance companies to gain a separatepermitfor entering reinsurance market, and sub-categorizing reinsurance into life reinsurance, non-life reinsurance and other typesofreinsurance.
FSC Chairman holds press briefing on financial policy for H2 2020Jun 11, 2020

FSC Chairman Eun Sung-soo held a press briefing on June 11 and laid out the government's financial policy plans for the second half of 2020. Chairman Eun said that the government will promote digital finance, strengthen financial stability and promote inclusive finance in the second half of this year, while also balancing thechallengesbroughtaboutby the COVID-19 pandemic. * Please see press release for details.
Vice Chairman holds 7th financial risk assessment meetingJun 09, 2020

FSC Vice Chairman Sohn Byungdoo held the 7th financial risk assessment meeting on June 9 to assess the financial market conditions and check the implementation status of the COVID-19 financial support. At the meeting, Vice Chairman Sohnstatedthatthegovernmentwillmaintainclosemarketmonitoringandbolsterriskmanagementdespite signs of market stability, such as stock prices recovering to pre-COVID-19 levels and the yield spreads stabilizing in the corporate bond and CP markets. * Please see press release for details.
Vice Chairman delivers congratulatory remarks at MOU signing event for digital finance educationJun 05, 2020

FSC Vice Chairman Sohn Byungdoo delivered congratulatory remarks atan MOU signing event for digital finance education and vowed to provide strong support to help educate more professionals in digital finance. Vice Chairman Sohn stated that the COVID-19 has brought about more demand for 'untact' and 'officeless' services in the financial industry as well as in our daily lives, and emphasized on the importance of digital transformation and educating more talented professionals. * Please see press release for details.
Vice Chairman holds 6th financial risk assessment meetingJun 02, 2020

FSC Vice Chairman Sohn Byungdoo held the 6th financial risk assessment meeting on June 2 to review the current status of the COVID-19 financial support for businesses and households. During the meeting, Vice Chairman Sohn stated that the government will closely monitor risk factors in the financial markets and swiftly provide support to businesses and individuals in need,whileworkingto change the current pandemic-driven crisis into an opportunity for digital innovation. *Please see press release for details.
FSC Chairman delivers congratulatory remarks at launch event of key industry stabilization fundMay 28, 2020

FSC Chairman Eun Sung-soo delivered congratulatory remarks at a launch event of the key industry stabilization fund on May 28. Chairman Eun spoke about the importance of timing and sufficient provision of support to the businesses in need to helpprotect jobs and facilitate recovery from the pandemic-induced business downturn. * Please see press release for details.
Vice Chairman holds talks on promoting market-based corporate restructuringMay 28, 2020

FSC Vice Chairman Sohn Byungdoo held talks on promoting more market-based approaches to corporate restructuring with relevant institutions and market experts on May 28. At the meeting, Vice Chairman Sohn discussed plans to (a) increase the size of the corporate restructuring fund from KRW1.6 trillion to KRW2.6 trillion, (b) expand project fund from 26 percent to 40 percent, and (c) establish a KRW300 billion private debt fund to facilitate more market-based approaches to corporate restructuring.* Please see press release for details.
Vice Chairman holds 5th financial risk assessment meetingMay 26, 2020

FSC Vice Chairman Sohn Byungdoo held the 5th financial risk assessment meeting on May 26 to check the current status of the COVID-19 financial support for businesses and households.During the meeting, Vice Chairman Sohn said that close cooperation is essential between businesses, creditors andlending institutions in order to boost the effectiveness of government policies. * Please see press release for details.
Vice Chairman announces plans for SPV and key industry stabilization fundMay 20, 2020

Vice Chairman Sohn Byungdoo announced the government's plans to set up a special purpose vehicle and a key industry stabilization fund at a press briefing on May 20. Through these measures, the government will enhance support for the corporate bond and commercial paper markets and help provide the necessary funding for the country's key industries.* Please see press release for details.
Vice Chairman holds 4th financial risk assessment meetingMay 19, 2020

Vice Chairman Sohn Byungdoo held the 4th financial risk assessment meeting on May 19. At the meeting, Vice Chairman Sohn stated that the financial markets are showing signs of stability due to prompt policy responses from the government,andthatin order to ensureawiderimpactofthecurrent market stabilizing effects, the government will provide support for low-rated corporate bonds and commercial paper. * Please see press release for details.
Vice Chairman Holds meeting on measures to improve asset-backed securities marketMay 18, 2020

FSC Vice Chairman Sohn Byungdoo held a meeting with industry officials and experts on May 18 to discuss ways to improve the asset-backed securities market. At the meeting, Vice Chairman Sohn emphasized the important role of asset-backed securities for corporate financing whileexplaining the government's plans for introducing the risk retention rule and removing the current BB rated credit requirement for businesses when issuing ABS, among others. * Please see press release for details.
Vice Chairman holds financial risk assessment meetingMay 12, 2020

FSC Vice Chairman Sohn Byungdoo held a financial risk assessment meeting on May 12, and discussed the second phase financial support program for small merchants and the preparations for emergency relief payments and key industry stabilization fund. At the meeting, Vice Chairman Sohn urged local banks and individuals to adhere to the virus prevention measures as banks get ready to process applications for household emergency relief payments and small merchant loans. * Please see press release for details.