![Lee Ju-yeol, President of the Bank of Korea [사진=한국은행 제공]](https://i0.wp.com/img.hankyung.com/photo/202101/01.24908747.1.jpg?w=560&ssl=1)
Lee Ju-yeol, President of the Bank of Korea [사진=한국은행 제공]
Bank of Korea governor Lee Joo-yeol (photo) stressed that “the financial sector’s ability to manage crises this year will be put to a real test,” he said. “We need an extraordinary determination of’Great Reset’ to reset everything.”
On the 5th, Governor Lee Ju-yeol said in the ‘2021 New Year’s Address in the Pan-Financial Sector’, “As potential risks from policy authorities and financial sectors’ liquidity supply and interest repayment deferral measures are expected to be revealed in earnest this year, we should have a high level of vigilance.” said.
Six financial industry associations, including the Banking Federation, have invited 1,300 people to one seat at the beginning of each year to listen to the New Year’s remarks of the heads of major institutions such as the Minister of Strategy and Finance and the President of the BOK. It only revealed the New Year’s address of the chief agency.
Governor Lee Ju-yeol said that although the spread of the Corona 19 vaccine has begun in some countries, uncertainty is still large and there are many difficulties for our economy to overcome inside and outside.
“Until the corona is completely controlled, there is a lot of uncertainty, and there are a lot of issues to be solved, such as the debt problem left as the aftereffect of the corona crisis, and the shift of funds to the asset market.” The coronavirus will deepen the imbalance by industry and class, and the transition to an eco-friendly digital economy will accelerate further.”
He also said that it was necessary to increase the efficiency of resource allocation step by step while continuing to support households and businesses. In particular, he said, “In a situation where the level of debt is high and the gap between finance and the real thing is widening, the market can be greatly shaken even by a small shock, so we need to take a closer look at the vulnerable areas of the financial system.
Governor Lee Ju-yeol explained, “2021 will be a year in which the crisis management ability of the Korean financial sector is truly tested,” he said. “It will be the year of the historical inflection point entering the post-corona era.” “We have to focus all our capabilities on managing leaks and spurring innovation.”
Reporter Kang Kyung-joo [email protected]
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