Kim Byunghwan "Jeju Air Accident, Insurance Payment Consultation Desk to Operate Today"

30-Day Executive Meeting Requests
"Financial and Foreign Exchange Market Instability Persists... Ensure Steady Implementation of Real Economy Support Measures"
"Thorough Inspection of Financial Institutions' Soundness and Liquidity"

Kim Byung-hwan, Chairman of the Financial Services Commission, regarding the Jeju Air passenger plane accident that occurred at Muan International Airport in Jeonnam, stated on the 30th, "We will promptly proceed with related measures, such as operating an on-site consultation desk for insurance payment within today," and added, "If there are any necessary actions that the financial authorities can take for government-level damage recovery and support, I hope they will be taken immediately."

At a meeting with executives held that day, Chairman Kim said, "There was a regrettable accident yesterday at Muan Airport," and expressed "deep condolences to the bereaved families, and since the national mourning period lasts until January 4 next year, I hope everyone calmly fulfills their duties at their respective positions."

He also requested a review of measures related to financial and livelihood stability. He mentioned, "Please thoroughly check the progress of the banking sector's support plans for foreign currency loans and settlements to companies, as well as the funding situation such as corporate bond issuance by companies at the beginning of the year, and actively promote measures to resolve any difficulties." He continued, "In preparation for the risk of latent risks materializing, please thoroughly inspect the soundness and liquidity of financial companies and respond promptly if necessary."

Furthermore, since ordinary citizens, small business owners, and companies may face difficulties, he requested the steady implementation of recently announced livelihood stabilization and real economy support measures, such as customized debt adjustment plans for ordinary citizens, financial support plans for small business owners by banks, and policy finance supply measures, and asked for continuous review of additional measures.

Chairman Kim emphasized, "Given the ongoing instability in the financial and foreign exchange markets, including exchange rates amid political uncertainty, we will maintain an emergency system and do our best to ensure financial stability at the end and beginning of the year."