Financial Services Commission Chairman Ko Seung-beom on Ostem Incident: "Will Consider Necessary Measures If Needed"

Financial Services Commission Chairman Ko Seung-beom and Financial Supervisory Service Governor Jung Eun-bo held their first meeting of the new year on the 6th at the FSS Governor's office in Yeouido, Seoul, agreeing to maintain close cooperation for financial stability and crisis response. Chairman Ko (left) and Governor Jung are taking a commemorative photo.

[Asia Economy Reporter Kwangho Lee] Financial Services Commission Chairman Ko Seung-beom said on the 6th that he would "consider necessary measures" regarding Ostem Implant, where a record embezzlement case of 188 billion won occurred.

Chairman Ko made the remarks to reporters during his visit to the Financial Supervisory Service (FSS) to meet with FSS Governor Jeong Eun-bo for a New Year's meeting, stating, "The police are investigating, so we need to observe that part" in relation to the Ostem Implant incident.

Chairman Ko said, "Apart from judicial procedures, we will closely examine issues such as market manipulation in the stock market, investor protection, and minority shareholder issues," adding, "If necessary measures are required, we will consider those as well."

Regarding household debt management, he emphasized, "As stated in the New Year's address, the policy to strengthen household debt management will consistently continue this year as it did last year."

He also explained about the loan maturity extensions for small business owners affected by COVID-19, which are set to end in March, saying, "We will cooperate with the FSS and financial companies to assess the current status and review how to proceed," adding, "We will consider the COVID-19 situation and the real economy."

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