Hong Nam-gi Vice Prime Minister and Minister of Strategy and FinanceDeputy Prime Minister Hong Nam-ki and Minister of Strategy and Finance (hereinafter referred to as the Ministry of Strategy and Finance) emphasized that the financial industry should grow into a promising industry that illuminates the future by accelerating innovation in the financial industry.
Earlier, Minister Hong distributed a New Year’s address to the financial sector for the New Year 2021. He referred to the global economic recession and rapid changes in the financial market caused by Corona 19, and aimed at last year’s Ministry of Knowledge Economy ▲Complete overcoming of the corona crisis ▲A quick and strong economic rebound ▲Preparing for the future to increase the growth path ▲Management of risk factors, etc., will continue until this year. Said there was.
In addition, Secretary Hong said, “In order to completely overcome the Corona 19 crisis and go on a recovery path, financial support to support the real market this year is very important,” and requested the financial community’s cooperation and smooth circulation of funds.
In addition, he said, “We need to have an eye for economic and social structural changes and activate finance for future engines and sustainable growth.” It said that it is making efforts to provide breakthrough regulatory innovation and incentives for private investment. Secretary Hong requested that the financial sector cooperate with the government’s efforts.
Meanwhile, Minister Hong urged the financial industry to be fostered as a promising industry that illuminates the future, saying that it is necessary to accelerate innovation in the financial industry. He said, “There is a greater demand for innovation in the financial industry than ever before, such as discussions on amendments to the related law with the aim of introducing the’comprehensive payment and settlement business’.”
He asked the financial sector to “pursue rapid innovation and sound competition at the same time, and strive for rapid growth of the financial industry and creation of a desirable market order.”
In addition, he said, “We need to make every effort to stabilize the financial sector through more thorough risk management this year.” He added, “We will carefully manage liquidity in the market while paying special attention to the possibility of causing a shift in the asset market and a surge in debt.”
Finally, Secretary Hong said, “Considering that the corona crisis is still in progress, we need to communicate with the financial sector and industry and consider’orderly normalization’ so that we can make a soft landing without impeding financial stability in the process of normalizing financial support in the future.”