Kim Yong-beom, Deputy Minister of Economy and Finance, "Will Announce Measures to Ensure Soundness of Non-Bank Financial Institutions Soon"

Kim Yong-beom, Vice Minister of Strategy and Finance, is attending the 'International Finance Association Winter Seminar' held at the Bankers Hall in Jung-gu, Seoul on the 15th, delivering a congratulatory address.

[Sejong=Asia Economy Reporter Joo Sang-don] Kim Yong-beom, the 1st Vice Minister of Strategy and Finance, stated on the 15th, "We will soon announce measures to improve the foreign exchange soundness system and liquidity supply framework, including securing the soundness of non-bank financial institutions, which caused the expansion of the crisis in March this year."

Vice Minister Kim made these remarks during his congratulatory speech at the 'Korea International Finance Association Winter Policy Seminar' held at the Bankers' Hall on the same day.

Vice Minister Kim said, "We will closely examine external risk factors such as the global asset price bubble and increased volatility in capital inflows and outflows in emerging markets, and continue efforts to secure macroprudential stability in the foreign exchange sector. Together with the Bank of Korea, we will review the issuance of digital currency and actively participate in discussions on improving the convenience of international payment settlements using virtual assets and supervisory systems, proactively responding to the possibility of changes in the dollar-centered system and future developments."

The seminar's theme for the day was "Instability in the International Financial Market after the Pandemic and Korea's Policy Response." Dr. Kim Hyun-tae from the Korea Institute of Finance presented on "High-risk, High-return Overseas Investment Risks and Policy Responses after the Pandemic," Dr. Jung Young-sik from the Korea Institute for International Economic Policy spoke on "Emerging Market Financial Markets after the Pandemic - Focusing on the Financial Stress Index," and Professor Choi Sang-yeop from Yonsei University presented on "Increased Uncertainty and International Capital Flows." This was followed by a comprehensive discussion on "Trends in the International Financial Market after the Pandemic and the U.S. Presidential Election and Future Policy Tasks," moderated by Professor Kim In-cheol from Sungkyunkwan University.

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