Eun Sung-soo, Chairman of the Financial Services Commission, is delivering opening remarks on the 22nd during a meeting to review the achievements of inclusive finance in the banking sector at the Korea Federation of Banks in Jung-gu, Seoul.
[Asia Economy Reporter Kangwook Cho] Eun Seong-su, Chairman of the Financial Services Commission, said on the 22nd that he hopes the conflict at IBK Industrial Bank of Korea over the controversy surrounding the appointment of the bank president will be resolved "before the Lunar New Year holiday."
On the same day, Chairman Eun attended a meeting to review the performance of inclusive finance in the banking sector held at the Bankers' Hall in Jung-gu, Seoul, and said, "I understand that Industrial Bank of Korea is currently in dialogue (between labor and management)."
He added, "I hope it will be resolved as soon as possible so that everyone can spend the holiday happily," and said, "It cannot be done unilaterally, and my personal wish is that it will be resolved that way."
Chairman Eun also refrained from making specific comments on the first trial verdict of Cho Yong-byeong, Chairman of Shinhan Financial Group, saying, "It is not appropriate to comment on the results before the final verdict." However, he cautiously stated, "I think the shareholders and the board of directors of Shinhan Bank will consider various situations and make decisions accordingly."
On the same day, Chairman Cho was sentenced to six months in prison with a two-year probation in the first trial for allegedly manipulating scores during the recruitment process of new employees at Shinhan Bank.
Eun Sung-soo, Chairman of the Financial Services Commission (sixth from the left in the front row), Kim Tae-young, Chairman of the Korea Federation of Banks (seventh from the left in the front row), Moon Sung-yoo, President of the Korea Asset Management Corporation (eighth from the left in the front row), and Lee Gye-moon, President of the Korea Inclusive Finance Agency (fourth from the left in the front row), along with other attendees, are signing the "Joint Memorandum of Understanding to Strengthen Debt Adjustment Support for Mortgage Loan Delinquent Low-Income Borrowers" and taking a commemorative photo.
Chairman Eun also commented on the signing of the 'Joint MOU to Strengthen Support for Debt Adjustment for Overdue Mortgage Borrowers among Low-income People,' saying, "Ultimately, banks that handle loans may be burdened with how to secure funds, but since public institutions purchase the overdue claims from borrowers and absorb the demand, there should be no such concerns." He explained that from the banks' perspective, this creates a virtuous cycle structure that secures 'more customers' and aligns with profits.
He further emphasized, "Some criticize 'inclusive finance' as merely giving away benefits, but this is not an expansion of charitable social contributions; rather, it is to enable finance to better fulfill its fundamental role." He added, "The free support project for debtor representatives and litigation lawyers will also be implemented from the 28th, and I hope that such systems for low-income finance will be widely known and provide great help to those who truly need it."
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