Financial Services Commission to Hold 'Foreign Financial Company Representatives Meeting' on the 10th
Discussion on Response Measures to Changes in the Global Financial Environment
[Asia Economy Reporter Kangwook Cho] On the 10th, the Financial Services Commission held a 'Foreign Financial Companies Representatives Meeting' at the Conrad Hotel in Yeouido, attended by representatives of major foreign financial companies operating in Korea, to discuss response measures to the expanding uncertainties in the global financial environment. They also listened to opinions on key issues and suggestions.
The meeting was attended by Eun Sung-soo, Chairman of the Financial Services Commission, Yoo Kwang-yeol, Senior Deputy Governor of the Financial Supervisory Service (Head of the Financial Hub Support Center), and representatives from 17 foreign financial companies.
As of the end of last year, the number of foreign financial companies that have entered the domestic market reached a total of 163, including 54 banks, 23 securities firms, 27 asset management companies, 9 investment advisory firms, 29 insurance companies, 13 specialized credit finance companies, and 8 savings banks.
Before the discussion, the Financial Services Commission and the Financial Supervisory Service explained recent major issues related to financial policy and the conditions for promoting the domestic financial hub, and introduced the status of handling major suggestions and interests raised by foreign financial companies so far.
At the meeting, Chairman Eun emphasized, "Foreign financial companies will be able to discover new businesses in the Korean financial market, which continues to innovate." He added, "In particular, collaboration with fintech startups, revitalization of the asset management market through corporate-centered fund conversion, and the continuous growth of pension funds will be important opportunity factors."
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