Financial Supervisory Commissioner Yoon Seok-heon put forward a position that the system for managing the total amount of household debt ordered to the banking sector should be maintained for the time being. In addition, the dividend payout ratio of financial holdings is expected to be adjusted to 15-25% of net profit.
According to the financial sector on the 23rd, FSS Commissioner Yoon Seok-heon said at a year-end press conference held online that day, “Household loans in November increased sharply, centered on credit loans, and household debt in Korea is also high in the world.”
He added, “In the standpoint of individual financial companies, there may be factors that want to lend in order to revitalize business, but the rise of household debt across the country is a risk that is not seen from the standpoint of individual companies.”
In addition, there is a saying that “the plan to advance household debt is to switch to DSR (total debt principal repayment ratio) regulation. It is a method in developed countries.” did.
Regarding the FSS’ request for a financial holding company to refrain from paying dividends, Director Yoon Seok-heon said, “The coordination with financial companies is proceeding smoothly, but it was 15~25% of net profit.” did.
In particular, he explained, “It is different from the fact that foreign countries such as the United States, the United Kingdom, and the European Union have allowed high dividends,” he said.
Along with this, Director Yoon also expressed his belief that the dualized financial supervision system of the Financial Services Commission and Financial Supervisory Service is leading to consumer damage.
Director Yoon said, “There is a need to reorganize the supervisory system,” and “we are considering various alternatives for the need for independence of the Financial Supervisory Service.”
In addition, he diagnosed, “There are certain types of financial accidents that are occurring now, such as the East Asian crisis and the private equity crisis,” he said.
“Under the dual supervisory system, the responsibility between supervisory policy and enforcement becomes unclear. To change this, financial supervisors must maintain a minimum of independence.”
Regarding the inspection of private equity firms, Director Yoon said, “Some cases, such as private ownership and predatory finance, have been caught.” .
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In addition, when inquiring about whether 100% compensation is possible for Optimus Fund by canceling the contract, he said, “We are looking for a conclusion about contract cancellation and incomplete sales,” he said, “Please wait a little more.”
In addition, he dismissed the question of whether the holding company could be subject to disciplinary action amid sanctions on banks selling lime funds, saying, “We are reviewing the possibility and scope of the sanctions.”