[신년사] Financial Supervisory Commission Yoon Seok-heon “I will act as a national risk manager in an uncertain financial environment.”

Financial Supervisory Service Director Yoon Seok-heon said in his New Year’s address on the 31st that he will play a role as a national risk manager in the severe internal and external economic and financial environment.

To this end, it plans to focus on ▲ strengthening the resilience of the financial system ▲ strengthening financial intermediary capacity ▲ strengthening financial consumer protection and inclusive finance ▲ supporting sustainable financial innovation.

First of all, it will strengthen the resilience of the financial system.

Financial Supervisory Commissioner Yun said, “The financial sector needs to preemptively prepare for the expected cliff effect when the economic recovery is delayed and financial support is reduced.” I will do it.” He added, “I will guide the internal control and risk management so that there is no negligence.”

The Financial Supervisory Service plans to support local banks, which have a large portion of SME support, and financial companies responsible for supporting the low-income and self-employed people. By establishing a constant risk monitoring system for the Financial Complex Group, efforts will be made to prevent the transfer of risks to financial subsidiaries and the resulting insolvency.

In addition, the Financial Supervisory Service is trying to strengthen its efficient financial intermediary capabilities.

Financial Supervisory Commissioner Yun said, “We will promote the efficient allocation of limited resources by inducing financial companies to improve their ability to select innovative companies and improve the constitution of SMEs.” We will support you to serve as a supplier.

Introducing a penalty for unfair trade, expanding the personnel for special judicial police in the capital market, and strengthening the inspection of similar investment advisory companies.

The plan is to support the early settlement of the Financial Consumer Protection Act, which will take effect from March to protect financial consumers and strengthen inclusive finance.

Financial Supervisory Commission Yun said, “We will expand the incentives for consumer protection of financial companies by improving the actual status of financial consumer protection and finding effective ways to use it.” He added, “We will effectively promote the monitoring of non-face-to-face financial product sales channels to prevent damage to financial consumers due to incomplete sales.”

When the Corona 19 financial support related to inclusive finance ends, self-employed and vulnerable cars may face heavy debt burdens at one time, so the debt adjustment system will be reorganized in advance and consulting support for reconstruction will also be expanded. The policy is to focus on expanding financial accessibility by strengthening digital financial education for the elderly.

It also promotes sustainable financial innovation.

Financial Supervisory Commissioner Yun said, “As the platformization of finance progresses, financial companies can deepen their subordination to IT companies, so it is necessary to lay a foundation for fair competition in the financial market. “We will also carefully manage new types of risks, such as digital debt risk.”

It also revealed a willingness to establish as a principle that enhancing the convenience of financial consumers is a priority and that financial providers generate additional profits.

On the other hand, he said he would look back on his own shortcomings in relation to the private equity crisis that occurred this year, and strengthen his supervisory capabilities by reorganizing the constant monitoring system so that there is no blind spot for the director.

In addition, he added that the system will be supplemented to prevent illegal and unfair behaviors in advance by dramatically improving internal controls, such as strengthening accountability for private equity funds. In addition, he also mentioned the reorganization of the financial supervision system and reorganization of internal discipline.