On the 2nd, Yoo Jae-hoon, president of the Korea Deposit Insurance Corporation, noted in his New Year's address that he would strengthen the crisis response system in preparation for increased uncertainty and volatility in the financial markets.
During the ceremony that day, Yoo urged, "In addition to focusing on legalizing the establishment of a financial stability account and improving the resolution system to avoid lapses, please prepare for system improvements in response to raising the deposit protection limit and enhance risk monitoring."
He also mentioned, "Ahead of the expiration of the special savings bank account in 2026 and the repayment fund's expiration in 2027, we need to not only prepare for the management of assets and liabilities but also fundamentally reconsider the basic framework of the fund system, including appropriate target funds." He added that comprehensive responses should be prepared, from establishing specific measures to gathering opinions both domestically and internationally and preparing legislation.