Go Seung-beom and Jeong Eun-bo, New Year Meeting... Cooperation on Financial Stability and Crisis Response

Second Meeting Since Last September... Discussions on Strengthening Household Debt Management and More

Ko Seung-beom, Chairman of the Financial Services Commission (right), and Jung Eun-bo, Governor of the Financial Supervisory Service

[Asia Economy Reporter Kwangho Lee] On the 6th, Go Seung-beom, Chairman of the Financial Services Commission, and Jeong Eun-bo, Governor of the Financial Supervisory Service, will hold a private New Year's meeting at the Financial Supervisory Service. The two leaders are expected to reaffirm their commitment to close cooperation in maintaining financial stability and responding to crises.

The Financial Services Commission announced that Chairman Go will visit the Financial Supervisory Service in Yeouido, Seoul, on the day, publicly declaring the financial authorities' intention to closely cooperate both domestically and internationally.

This is the first time in seven years since March 2015 that a Financial Services Commission chairman has directly visited the Financial Supervisory Service to meet its governor, following then-Chairman Lim Jong-ryong's visit to Governor Jin Woong-seop. At that time, former Chairman Lim gifted Governor Jin a calligraphy work inscribed with '金融改革 渾然一體 (Financial Reform in Complete Unity)'.

The two leaders are expected to exchange views on financial issues such as maintaining financial stability through proactive management of household debt, preemptive management of potential risks, and enhancing competitiveness in digital and ESG (environment, social, and governance) areas. In particular, they are anticipated to strengthen communication and cooperation between the two institutions.

On the 4th, through the '2022 New Year's Address of the Pan-Financial Sector,' the two leaders jointly assessed the current economic situation and agreed on strengthening household debt management, protective measures for low-income and vulnerable groups, and proactive consumer protection.

A Financial Services Commission official said, "With the prolonged COVID-19 pandemic and normalization of monetary policies worldwide, potential risks are increasing," adding, "This meeting will convey a message that the two institutions will join forces to overcome difficult conditions."

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