[SAFF 2020] Eun Seong-su Chairman "Preparing for Post-Corona Innovative Growth"

2020 Seoul Asia Financial Forum Opening Address
"The New Normal of Uncertainty Becomes Reality" Highlighted

At the '2020 Seoul Asia Financial Forum (SAFF 2020)' hosted by Asia Economy on the 20th at the Western Chosun Hotel in Jung-gu, Seoul, Eun Sung-soo, Chairman of the Financial Services Commission, delivered an encouraging message via video. The event, held under the theme "Post-COVID-19, Financial Market Stabilization Measures," aimed to deeply explore innovative strategies to overcome uncertainties in the era of the big blur in finance and capital markets. This year, to prevent the spread of COVID-19 and ensure the safety of speakers and participants, the event was conducted via online live streaming. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Kangwook Cho] Eun Sung-soo, Chairman of the Financial Services Commission, stated, "We will strive for innovative growth in the post-COVID era by strengthening financial capabilities through digital financial innovation and supporting and fostering leading innovative companies."

Chairman Eun said at the opening remarks of the '2020 Seoul Asia Financial Forum' held on the 20th at the Westin Chosun Hotel in Sogong-dong, Jung-gu, Seoul, "The forum's theme, 'Post-COVID Financial Market Stabilization Measures,' is a very timely and meaningful topic for discussion." ▶Related article on page 12

Asia Economy held the forum on the same day under the theme 'Post-COVID, Financial Market Stabilization Measures' to deeply explore innovative strategies to overcome uncertainties in the era of big blur in finance and capital markets. The forum also discussed global financial cooperation, changes and responses in the global financial market after COVID-19, and investment strategies.

He pointed out, "The 'new normal of uncertainty' mentioned by Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), is becoming a reality." In a blog post on the IMF website on February 20, Georgieva described the COVID-19 pandemic as "the most urgent uncertainty" and "a global health emergency that we did not anticipate in January."

Chairman Eun expressed concern, saying, "Since anyone can be exposed to the risk of the virus, the disaster and economic crisis caused by the epidemic transcend regions and countries, affecting the entire world," adding, "Structural problems such as low growth caused by low interest rates, aging, and trade wars, which were weighing down our economy even before the COVID crisis, remain unresolved challenges."

He described the first half of this year as a period of chaos and an unprecedented crisis. Nevertheless, he emphasized that the government has proactively and boldly prepared financial measures worth '175 trillion won +@,' including the Bond Market Stabilization Fund and the Securities Market Stabilization Fund, to stabilize the financial market. Furthermore, he stressed that plans to strengthen financial capabilities through digital financial innovation and to support and foster leading innovative companies for innovative growth in the post-COVID era are being steadily prepared.

Chairman Eun said, "Although this is a rapidly changing and turbulent time, we need to look broadly and long-term to see things properly, and only by seeing properly can we respond correctly," adding, "I expect this forum to provide a meaningful opportunity to see broadly and long-term and properly." He continued, "I hope many proposals will be discussed at this forum to overcome the crisis and respond appropriately thereafter."

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