Lee Eog-weon, the Chairperson of the Financial Services Commission (FSC), said on the 21st that "from the perspective of total household debt management, there are aspects that make the current stance unavoidable next year as well," adding, "we have no choice but to maintain it consistently next year."
The Chairperson appeared on KBS Sunday Diagnosis that day and stated accordingly that "right now, because the level of (household debt) is so high, we have no choice but to set the total growth rate lower than the nominal growth rate and pursue a soft landing."
Regarding banks closing loan counters to meet their total household loans targets, the Chairperson said, "we will look into whether we can address the parts where there is too much concentration at specific times."
Chairperson Lee Eog-weon said the Public Growth Fund, which will invest 150 trillion won over five years in advanced strategic industries, is different from the Green Growth Fund under Lee Myung-bak, the Unification Fund under Park Geun-hye, and the New Deal Fund under Moon Jae-in. The legal basis is clear in the Korea Development Bank Act and other laws, and it is designed as a comprehensive program that goes beyond indirect investment. Lee said it is "a national response tool to prepare for the global investment war."
Regarding the rise in Treasury bond yields and the won-dollar exchange rate, the official said, "when we look comprehensively at the soundness of the financial system itself and its crisis response capacity, there is no major problem," adding, "we will implement market stabilization measures preemptively at any time if necessary."
The Chairperson saw that a stock market recovery would help stabilize the exchange rate. Regarding President Lee Jae-myung's point that distrust of the domestic stock market is affecting the foreign exchange market, the Chairperson said, "it seems to mean that if the attractiveness of the capital market increases and foreign investors return, the exchange rate market can also achieve stability."
Regarding the joint response team formed by the Financial Services Commission (FSC), the Financial Supervisory Service, and the Korea Exchange (KRX), the official said, "within two months of launch, we uncovered case No. 1 and case No. 2," adding, "the signal sent to the capital market was very significant in that we acted as quickly as possible and stripped everything through monetary sanctions." The official added, "internally, we are continuing to review No. 3, No. 4, and No. 5."