Chairperson Kim Byung-hwan held an expanded executive meeting on the 16th and noted, "To gain the trust of the market and maintain credibility, consistent policy implementation along with efforts for market stability is necessary."
According to the Financial Services Commission, Commissioner Kim ordered a swift review of the financial sector's requests for market stability, including the timing for the introduction of stress buffer capital, and instructed that possible measures be announced within this week. A plan to reduce card transaction fees is also expected to be released within this week as scheduled. Additionally, discussions with the banking sector are set to conclude, allowing for the announcement of financial support measures for small businesses, which include debt adjustment plans for overdue businesses and those that have closed, by the end of the year.
Commissioner Kim stated, "Market volatility is gradually easing, but we must remain vigilant and maintain 24-hour monitoring and response systems, and continue to communicate with domestic and foreign financial institutions and investors."
He added, "I hope that a funding repayment plan for corporations of various sizes will be reviewed to ensure there are no difficulties in securing funds, and that the opinions of the relevant ministries are collected to swiftly establish the policy finance supply plan for 2025."
Commissioner Kim instructed Financial Services Commission staff to do their best to ensure that livelihood-related bills currently pending in the National Assembly can be passed. Bills such as the lending business act (improvements to illegal private finance), the electronic financial transactions act (prevention of time theft), and the deposits protection act (increasing the limit for deposit protection) have yet to pass through the National Assembly.
Commissioner Kim remarked, "The government is operating with the attitude that no gap in governance can be tolerated" and added, "As a public official responsible for financial policy, I hope you carry out your duties with a sense of mission without wavering."