Go Seung-beom "Financial Services Commission and Financial Supervisory Service Must Operate as One... Will Strengthen Communication"

First Meeting Between Ko Seung-beom and Jung Eun-bo After Inauguration... Focus on Household Debt Management Discussion

Financial Services Commission Chairman Ko Seung-beom delivers a congratulatory speech at the Shinhan Financial Group's 20th anniversary 'World Economy Institute-Shinhan Financial Group International Conference' held at Lotte Hotel in Jung-gu, Seoul on the 2nd. Photo by Moon Ho-nam munonam@

[Asia Economy reporters Kwangho Lee and Seungseop Song] On the afternoon of the 2nd, Go Seung-beom, Chairman of the Financial Services Commission, and Jeong Eun-bo, Governor of the Financial Supervisory Service, held a private meeting to discuss financial issues including strengthening household debt management.

At the World Economy Institute-Shinhan Financial Group International Conference held at Lotte Hotel in Sogong-dong, Jung-gu, Seoul, Go, the Chairman of the Financial Services Commission, told reporters, "As I mentioned before my appointment, the FSC and the FSS must operate as one body. We will talk about strengthening communication."

Until now, the FSC and FSS have been out of sync on various issues such as the KIKO dispute, Samsung Biologics accounting fraud issue, the revival of comprehensive inspections, and the independence of the FSS.

However, with the simultaneous replacement and appointment of the heads of the two institutions, the possibility of easing tensions has increased.

Chairman Go and Governor Jeong are both economic officials and passed the 28th Administrative Examination together. Since they have worked closely for a long time, it is expected that they will establish a cooperative relationship in handling tasks.

First, the two leaders are expected to discuss household measures, which are considered the biggest issue.

Chairman Go has emphasized the risks of household debt. In his inaugural speech on the 31st of last month, he stated, "We will use all means to eliminate the risk factors inherent in the rapidly increasing household debt and concentrate our policy capabilities."

Governor Jeong also pointed out the risks of household debt at his inauguration. He diagnosed, "A 'perfect storm' may occur where various risks such as the possibility of expansion of insolvency among marginal companies and self-employed individuals, and price adjustments of assets with bubble concerns come all at once. While financial support for real economic recovery is urgent, we face a challenging financial environment where excessive private sector debt must be managed."

Additionally, issues such as supervision of virtual asset exchanges and disciplinary actions against CEOs of financial companies following the private equity fund incident are also expected to be major agenda items.

A financial authority official said, "Since this is their first meeting after inauguration, they are expected to discuss general financial issues."

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