Photo News - Financial Services Commission

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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.
FSC Chairman and chiefs of financial groups and institutions sign agreement on stock market stabilization fundMar 31, 2020

FSC Chairman Eun Sung-soo held a meeting with the heads of major financial groups and institutions on March 31 and signed a memorandum of agreement on creating a stock market stabilization fund to help restore stability in the country's major securities markets.
Vice Chairman holds 1st teleconference meeting for Securities and Futures Commission to contribute to social distancing campaignMar 25, 2020

FSC Vice Chairman Sohn Byungdoo held the 1st teleconference meeting of the Securities and Futures Commission on March 25, 2020 to promote the government-wide social distancing campaign. The FSC and the SFC plan to utilize teleconferencing tools for the regular meetings to help contribute to the government-wide social distancing campaign.
Vice Chairman holds meeting on improving auto insurance rulesMar 19, 2020

FSC Vice Chairman Sohn Byungdoo held a meeting on March 19, 2020 to discuss ways to improve the current rules and regulations on auto insurance. During the meeting, Vice Chairman Sohn emphasized the importance of fairness in calculating insurance premiums and of protecting the rights and interests of victims of auto accidents.
FSC Chairman meets with financial federation and association leadersMar 06, 2020

FSC Chairman Eun Sung-soo held a meeting with the federation and association chiefs of the financial industry on March 6, 2020, and discussed ways in which different financial sectors can contribute to alleviate difficulties facing businesses and industries affected by the spread of COVID-19.