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FSC Chairman holds 43rd financial hubs establishment committee meetingJul 16, 2020

FSC Chairman Eun Sung-soo presided over the 43rd financial hubs establishment committee meeting on July 16, and discussed ways to reassess the government's financial hub policy following recent changes in market environments at home and abroad. At the meeting, Chairman Eun said that the government will work to enhance transparency in Korea's financial regulatory environment and find innovative ways to improve competitiveness of our financial industry. * Please see press release for details.
Vice Chairman holds 12th financial risk assessment meetingJul 14, 2020

Vice Chairman Sohn Byungdoo presided over the 12th financial risk assessment meeting on July 14 to discuss the financial market conditions and monitor the progress in implementing the COVID-19 financial support. At the meeting, Vice Chairman Sohn spoke about the acceleration of digital transformation and the move toward "untact" economic activities caused by the COVID-19 pandemic,whilestressingthe importance of agile responsestochangesand being well prepared forthe post-pandemic era. * Please see press release for details.
FSC Chairman speaks about promoting AI application in financial sectorsJul 09, 2020

FSC Chairman Eun Sung-soo visited the Korea Insurance Development Institute's automobile technology research center in Icheon-si, Gyeonggi-do on July 9 and held talks on the importance of innovation and promoting the application of artificial intelligence in the financial industry. Chairman Eunhadanopportunitytotryouthow AI-based auto damage appraisal service works. * Please see press release for details.
Vice Chairman holds 11th financial risk assessment meetingJul 07, 2020

Vice Chairman Sohn Byungdoo presided over the 11th financial risk assessment meeting on July 7 to discuss the financial market conditions and monitor the progress in implementing the COVID-19 financial support. At the meeting, Vice Chairman Sohn spoke about the significance of corporate restructuring as an essential step to restore the competitiveness of a business in the process of business normalization. * Please see press release for details.
FSC Chairman delivers keynote address at a seminar commemorating day of information protectionJul 07, 2020

FSC Chairman Eun Sung-soo delivered a keynote address at a seminar held by the Financial Security Institute commemorating the day of information protection on July 7.Duringhisspeech,Chairman Eun said that user convenience and data securityareoftenin a trafe-off relationship, and that the government, financial institutions, fintechs and big techs should all work together to find a balanced approach in seeking both innovation and security in financial services. * Please see press release for details.
Vice Chairman delivers congratulatory remarks at open banking seminarJul 06, 2020

Vice Chairman Sohn Byungdoo attended the open banking seminar and delivered congratulatory remarks on July 6. In order to build upon the progress and further develop Korea's open banking system, Vice Chairman Sohn said thatexpandingtheserviceto the non-banking sector, guaranteeing information security and data protection, providing an open platform for all participating banks and institutions, and ensuring stability should be considered.* Please see press release for details.
Vice Chairman holds meeting to discuss plans for comprehensive inspection of fraud-prone sectorsJul 02, 2020

Vice Chairman Sohn Byungdoo held a meeting on July 2 to discuss plans to carry out comprehensive inspectionstargetingfraud-prone sectors where consumer losses from illegal activities have been concentrated. The specific targets include private equity funds, peer-to-peer lending, illegal activities by unregistered financial service providers and illegal predatory lending practices vishing. * Please see press release for details.
Vice Chairman holds 10th financial risk assessment meetingJun 30, 2020

Vice Chairman Sohn Byungdoo presided over the 10th financial risk assessment meeting on June 30 to assess the financial market conditions and monitor the progress in implementing the COVID-19 financial support. At the meeting, Vice Chairman Sohnstatedthat banks should continue to make lending available to support the real economy while enhancing capital buffers and loss absorbing capacity to be well prepared for a protracted pandemic situation. * Please see press release for details.
Vice Chairman delivers congratulatory remarks at financial MyData forumJun 29, 2020

Vice Chairman Sohn Byungdoo attended the financial MyData forum and information session on June 29, and delivered congratulatory remarks. During his speech, Vice Chairman Sohn stated thatinorderto ensure seamless operation of MyData businesses, user-centered services, business compatibility and expandability, fair competition based on wide availability of data and personal data protection should be considered.* Pleaseseepressreleasefordetails.
Vice Chairman attends KAMCO's personal debt purchase program launch eventJun 25, 2020

Vice Chairman Sohn Byungdoo attended the launching of the Korea Asset Management Corporation's personal debt purchase program on June 25 and spoke about the importance of inclusive finance. KAMCO and lending institutions signed a memorandum of agreement under which lending institutions may sell non-collateralized delinquent personal debt to KAMCO, which in turn will take over individual debt and help debtorsthrough debt adjustment plans. * Please see press release for details.
FSC Chairman speaks about government's plans for preventing vishing scamsJun 24, 2020

FSC Chairman Eun Sung-soo visited Shinhan Bank's head office on June 24 and spokeaboutthegovernment's plans to prevent vishing scams. During his visit, Chairman Eun said that the government will workondeveloping a comprehensive vishing prevention system, bolstering crackdowns and increasing public awareness through closecooperationbetween the financial, communications and investigative authorities. * Please see press release for details.
FSC Chairman delivers congratulatory remarks at NextRise 2020Jun 23, 2020

FSC Chairman Eun Sung-soo delivered congratulatory remarks at the global start-up conference NextRise 2020 on June 23 in Seoul. At the event, Chairman Eun introduced the government's efforts to promote innovation in financial services and spoke about the importance of building mutual trust between businesses and investors.* Please see press release for details.