Eun Sung-soo, Financial Services Commission Chairman, "Card Companies Should Refrain from Disaster Relief Fund Attraction Marketing"

Eun Sung-soo, Chairman of the Financial Services Commission, is delivering opening remarks at the 'Financial Risk Response Team Meeting' held on the 6th at the Korea Federation of Banks building in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Jo Gang-wook] Eun Sung-soo, Chairman of the Financial Services Commission, requested that credit card companies refrain from excessive marketing aimed at attracting card applications in relation to the emergency disaster relief fund payment tasks they are performing.

Chairman Eun attended the 'Government-Local Governments-Credit Card Companies Emergency Disaster Relief Fund Payment Business Agreement' hosted by the Ministry of the Interior and Safety at the Government Seoul Office Building on the afternoon of the 8th, and said, "Credit card companies are carrying out government tasks through this business agreement."

Chairman Eun emphasized the importance of the role of credit card companies, saying, "The participation of credit card companies in the government's emergency disaster relief fund payment work to overcome the novel coronavirus infection (COVID-19) is an unprecedented public-private cooperation case in the world."

He continued, "I hope that they will thoroughly prepare with the mindset of carrying out a historic mission and successfully distribute the relief funds," and urged, "Since they are performing government tasks, excessive marketing activities to attract applications for the relief funds should be restrained."

At the agreement ceremony held that day, Chairman Eun was joined by Jin Young, Minister of the Ministry of the Interior and Safety, heads of local governments, and presidents of nine credit card companies (KB Kookmin, NH Nonghyup, Lotte, BC, Samsung, Shinhan, Woori, Hana, Hyundai Card).

Applications to receive the emergency disaster relief funds via credit or check cards can be made on each card company's website starting on the 11th. In-person applications will be available from the 18th.

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