Financial Services Commission Presents Awards for Meritorious Service in Active Administration
Recognition for Policies Such as Eradication of Illegal Private Lending and Public Finance Initiatives
Awarded Officials to Receive Preferential Treatment for Overseas Study Opportunities
# The government established the "Special Low-Interest Support Program for Semiconductors," but employees of the Korea Development Bank (KDB), which is responsible for lending, felt burdened. This is because providing loans at rates lower than KDB’s own funding rate could pose problems. In January, despite actual fiscal resources being allocated, there were complaints on the ground that it was difficult to offer loans at unprecedentedly low rates. Kim Jinju, an official at the Financial Services Commission (FSC), supported active implementation by introducing an indemnity clause through a resolution by the Active Administration Committee, ensuring that loan officers would not be held accountable even if the program operated at government bond rates lower than KDB’s funding rate. As a result, in just four months through May, more than 4 trillion won was provided to support new facility investments by semiconductor companies. The response from companies was overwhelming. Through the first supplementary budget, the government expanded the program’s scale from 17 trillion won to 20.4 trillion won.
Kim Byunghwan, Chairman of the Financial Services Commission, presented awards for meritorious service in active administration to the "Outstanding Public Officials in Active Administration for the First and Second Quarters of 2025."
On the 18th, the FSC announced that it had selected eight officials responsible for eight outstanding cases, including the "Special Low-Interest Support Program for Semiconductors" and "Measures to Eradicate Illegal Private Lending and Improve the Lending Industry System."
For this selection, 12 cases were submitted through internal and external nominations, and the final decision was made by the "5th Active Administration Committee." The awardees are Park Mingyu, Yoo Wongyu, Kim Jinju, Jung Sujong, Lee Jiho, Yoon Seyul, Kim Hyobin, and Shim Woosang.
The FSC plans to grant exceptional incentives to the award-winning officials, including the highest performance bonuses. They will receive the top rating in personnel evaluations and will be given preference when applying for overseas study opportunities.
The eight selected cases this time include policies that have attracted significant attention in the market. Of these, four have been recognized as public finance policies that have had a tangible impact on people’s livelihoods amid challenging economic conditions.
First, these include the "Introduction and Enhancement of Comprehensive Support Measures for Finance, Employment, and Welfare" to support the economic independence of vulnerable groups; "Measures to Eradicate Illegal Private Lending and Improve the Lending Industry System" to protect the public from crimes that threaten livelihoods; the "Special Low-Interest Support Program for Semiconductors," a three-year, 20 trillion won initiative to actively support advanced strategic industries; and the "Roadmap for Corporate Participation in the Virtual Asset Market," which allows corporations to participate in the virtual asset market.
Other cases that improved convenience and strengthened protection for the public and businesses received encouragement awards. These include the "Introduction of New Sanctions for Unfair Trading and Illegal Short Selling in the Capital Market" to establish a one-strike-out system for unfair trading, "Securitization of Death Benefits" to support stable income in retirement, the "Three-Part Corporate Bond Issuance Package for Small and Medium-Sized Enterprises" to open new funding channels for businesses, and the "Active Response to Disasters by the Financial Services Commission and Pan-Government" for effective disaster response.
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