[New Year's Meeting] Yoon Seok-heon: "Financial Sector Must Prioritize Restoring Public Trust"

[Image source=Yonhap News]

[Asia Economy Reporter Oh Hyung-gil] Yoon Seok-heon, Governor of the Financial Supervisory Service, said on the 3rd, "The financial sector must prioritize regaining the trust of the people."

Governor Yoon attended the '2020 Pan-Financial New Year Meeting' held at the Dynasty Hall of the Shilla Hotel in Jung-gu, Seoul, and stated, "We must more thoroughly prepare for internal and external latent risks, actively participate in establishing fair financial market order, and respond to rapidly changing technological environments with Responsible Innovation."

He continued, "We must actively promote inclusive finance and establish a consumer-centered management culture to ensure thorough protection of financial consumers."

Governor Yoon also noted, "The financial environment is unlikely to improve significantly in the new year," adding, "With the trends of low growth and low interest rates, the burden of household debt, and added overseas risk factors, conflicts and uncertainties of various sizes will increase, making the financial environment far from smooth."

He further stated, "As a national risk manager, the Financial Supervisory Service will focus on securing trust in supervisory duties with the attitude of 'Hosiubo (虎視牛步)' and do its best to create trusted finance."

Governor Yoon added, "We will carefully monitor risk factors that threaten the stability of the financial system and diligently carry out supervisory duties without wavering, focusing on securing trust in supervision to do our utmost in creating 'trusted finance'."

This content was produced with the assistance of AI translation services.