Son Byung-du, Vice Chairman of the Financial Services Commission, is delivering a congratulatory speech at the CAMCO Personal Delinquent Debt Purchase Fund business agreement ceremony held at the Korea Federation of Banks in Jung-gu, Seoul on the 25th.
[Asia Economy Reporter Kangwook Cho] Sohn Byung-doo, Vice Chairman of the Financial Services Commission, stated on the 25th regarding the 'June 17 Real Estate Measures' that "there are no additional exceptions under review beyond what was originally announced."
Vice Chairman Sohn made these remarks after a personal delinquent debt purchase agreement ceremony held at the Bankers' Hall in Jung-gu, Seoul, saying to reporters, "We plan to continue implementing the announced measures without any setbacks."
Regarding criticisms that the recent real estate measures have made it more difficult for non-homeowners to purchase their own homes, he emphasized, "This measure focuses on curbing 'gap investment' (purchasing with jeonse deposits), which is one of the main causes of rising real estate prices. By suppressing gap investment, real estate prices will eventually stabilize, and the timing for genuine buyers to purchase homes will actually be brought forward."
Additionally, Vice Chairman Sohn explained the plan to conduct a full investigation of private equity funds following the large-scale redemption suspension incident at Optimus Asset Management, stating, "We are in practical discussions with the Financial Supervisory Service and will announce the investigation plan next week."
Regarding criticisms that financial authorities may have excessively relaxed regulations on the private equity fund market, he acknowledged, "We recognize the need for supplementary measures," adding, "If additional problems are discovered through a comprehensive investigation of private equity funds, we may supplement the measures accordingly."
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