Kim Byung-hwan, Chairman of the Financial Services Commission, "Market Stability is Top Priority, Focus on Real Economy Recovery"

"Political Uncertainty Leads to Contraction in Economic Activities"
Efforts to Quickly Establish Measures for Stabilizing Livelihoods

Kim Byung-hwan, Chairman of the Financial Services Commission, stated, "We will prioritize market stability and focus on the recovery of the real economy," adding, "We will also strengthen efforts to maintain the credibility of our economy and financial system."

On the 3rd, at the New Year's meeting of the financial sector held at Lotte Hotel in Jung-gu, Seoul, Chairman Kim said, "Our economy is currently facing political uncertainties unlike anything we have experienced before, which are dampening economic activities and sentiment."

He continued, "While the domestic economy remains sluggish, the burdens on low-income earners and self-employed individuals persist," emphasizing, "In a situation where uncertainties are expanding, potential risks can materialize at any time, so we must not let our guard down."

He added, "The Financial Services Commission will do its utmost to overcome the difficulties facing our financial sector and enable it to make a leap forward."

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To this end, Chairman Kim announced that measures to stabilize people's livelihoods, such as expanding policy finance for low-income earners and financial support plans for small business owners in the banking sector, will be swiftly implemented on the ground so that their effects can be felt.

He also pledged to support financial innovation suited to the digital era. Chairman Kim said, "We will consistently promote capital market value-up (enhancement of corporate value), infrastructure development for the spread of artificial intelligence (AI), and support innovation in the financial industry."

Given the difficult market conditions, he urged market participants to do their best in their respective roles. He said, "In difficult times, if everyone fulfills their roles, any crisis can be overcome," and requested, "Please maintain soundness and liquidity independently while steadily proceeding with planned schedules for funding supply and management plans for low-income earners, small business owners, and companies without wavering."