Financial Services Commission Launches Job Creation in Financial Industry to Revitalize 'Fintech and Regional Finance'

Report on Financial Sector Response Measures for Job Creation

[Asia Economy Reporter Jin-ho Kim] The Financial Services Commission (FSC) has decided to promote the fintech and financial industry as well as revitalize regional finance to create new jobs in the financial sector.

On the 18th, the FSC announced that it reported the "Financial Sector Response Plan for Job Creation," which centers on these contents, to the 20th Job Committee meeting.

The FSC plans to expand the growth engine of the financial sector in response to recent changes in the financial industry landscape, such as the expansion of the financial industry into the information and communication technology (IT) sector, the emergence of fintech and data companies, and the intensification of aging. In particular, it plans to nurture specialized personnel capable of responding to changes in the financial industry landscape, including the emergence of fintech and data companies and the intensification of aging. To this end, it will promote the training of financial sector professionals in IT, fintech, and region-specific finance through cooperation with financial sector training institutions, universities, and local governments.

Support for job creation in the real economy will also be strengthened. The plan is to activate the supply of venture capital to new growth and innovation sectors by utilizing the capital market and policy finance.

In the capital market sector, the FSC will improve the listing procedures for future growth companies, promote loans and investments by securities firms in innovative companies, and activate crowdfunding. In the policy finance sector, financial support for innovative companies will be strengthened through policy-type New Deal funds, growth support funds, the National Representative 1000 for Innovative Companies, and the Innovation Growth Intelligence System.

Furthermore, job creation will also be pursued through the revitalization of regional finance. The FSC plans to conduct evaluations of regional reinvestment for regional fund provision and induce support for the regional economy by strengthening the fund intermediation function of regional financial institutions. In particular, support for various entities such as regional key industries in non-capital areas, venture investment and innovative companies, and social economy enterprises will also be expanded.

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