Eun Sung-soo: "If the FSC can help with K-Bank capital increase, we will assist"

Eun Sung-soo, Chairman of the Financial Services Commission

[Asia Economy Reporter Kim Hyo-jin] Eun Sung-soo, Chairman of the Financial Services Commission, stated on the 11th regarding the normalization of K-Bank, the first internet-only bank in Korea facing financial difficulties, "If there is anything the Financial Services Commission can do to assist K-Bank's capital increase, we will help."

Chairman Eun attended the plenary session of the Political Affairs Committee held at the National Assembly in Yeouido, Seoul, and responded to a question from Kim Jong-seok, a member of the Future United Party, regarding K-Bank, saying, "Considering the depositors, I believe sufficient financial capacity is necessary."

K-Bank planned to overcome its financial difficulties by changing its major shareholder to KT and receiving a capital injection of 590 billion KRW, expanding its capital to the 1 trillion KRW level. However, the amendment to the Special Act on Internet-Only Banks, which would have made this possible, was rejected at the National Assembly plenary session on the 5th, and K-Bank and KT are now seeking a 'Plan B.'

Chairman Eun said, "If all shareholders increase their shares proportionally, it can be done under the current legal framework, but the consent of other shareholders is required," adding, "I understand K-Bank has started persuading shareholders. We need to observe whether they will increase together with shareholder consent or wait."

Meanwhile, K-Bank's Executive Candidate Recommendation Committee recommended Lee Moon-hwan, CEO of BC Card, as the second president on the same day. Lee joined KT in 1989 and has held positions such as Head of New Business Development, Head of Management Planning, and Head of Corporate Business. Since 2018, he has led BC Card and is recognized for spearheading innovative growth based on financial ICT convergence.

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