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| Finance Commissioner Eun Seong-soo speaks at a meeting with CEOs of the financial investment industry held at the Korea Financial Investment Association in Yeongdeungpo-gu, Seoul on the 5th. 2021.4.5/News1 © News1 Reporter Seong Dong-hun |
Finance Commissioner Eun Seong-soo said, “Just because the rehabilitation process (court administration) goes into the countdown of SsangYong Motor Company, it doesn’t mean that everything goes wrong. Rather, there may be a chance to recover. We understand from that level, and I think the court approaches it from that point of view. I do” he said.
Chairman Eun met with reporters after a meeting with the CEOs (CEOs) of the financial investment industry related to the Financial Consumer Protection Act held at the Financial Investment Association in Yeouido, Seoul this morning. I can think of it,” he said.
The Seoul Rehabilitation Court believes that the investment negotiations between Ssangyong Motor and the potential investor, HAAH Automotive, were virtually ended in misfire. The remaining time until the start of the rehabilitation process is expected to be about 1 to 2 weeks. Until the 6th of this month, the rehabilitation court requested the Ssangyong Motor Creditors Council (representative creditors Korea Development Bank) and the court management committee for opinions on whether to commence the rehabilitation procedure.
Chairman Eun said, “If it doesn’t come by that time (the remaining period), you have no choice but to go to the rehabilitation procedure.” “I think it is to gather opinions on how to revive this company by collecting them.”
He added, “If possible, I hope that the labor and management, creditors, and business partners will give up little by little, so that Ssangyong Motor will come to life for everyone’s interests, so I hope we can gather wisdom for this.”
He also said, “(In the short selling system improvement proposal), there are two things left: the loan information system and the construction of the loan stock system. (Today) I asked each securities company. It is said that it is all over, and generally, it is a problem within May 3rd (the date of the short selling reopening). “There is no such thing,” he said, and plans to test-operate a system improvement plan such as an individual lending system to increase the accessibility of short selling by individual investors around the 20th of this month.
Regarding the opinion of the business right that it is difficult to obtain a private equity trustee recently, he said, “I think it is a frictional and transitional situation. Since there are positions of the trustees and managers, I would like to see if it will be normalized again if you follow the procedures carefully and clarify the responsibilities.” In the process of selling the Optimus Asset Management Fund, which caused a large-scale redemption stop due to fraud, financial companies are moving to avoid entrusting the trustees as the trustee’s fund verification failure is revealed and the related obligations are strengthened.
In terms of the total debt principal repayment ratio (DSR), among the plans to be announced in the middle of this month, Chairman Eun pondered, “It will reduce household loans and reduce youth burden, but will not give false signals (signals) to real estate (market)?” Explained.
Regarding my being mentioned as the next Minister of Strategy and Finance and the candidate for the Deputy Prime Minister of the Economy, I said, “I can’t talk about personnel issues, and it’s not appropriate to talk about them.”