Kim So-young, Vice Chairperson, "Monitoring Financial Institution Transmission Amid Increased Financial Volatility"

[Asia Economy Reporter Ji Yeon-jin] Kim So-young, Vice Chairman of the Financial Services Commission, evaluated on the 14th, "As concerns over monetary tightening policies of major countries, including the upcoming June U.S. Federal Open Market Committee (FOMC), deepen, volatility in domestic and international financial markets is significantly expanding."

At the 'Financial Market Inspection Meeting' held jointly with related organizations such as the Financial Supervisory Service and the International Finance Center on the morning of the same day, Vice Chairman Kim said, "Since the release of the U.S. Consumer Price Index in May, the expectation of an inflation peak-out has weakened, and the view that the high inflation situation is likely to persist is spreading."

He also emphasized, "Since the expansion of financial market volatility could potentially transfer to risk factors for vulnerable borrowers, financial companies, and the financial system, it is necessary to thoroughly check the financial difficulties of vulnerable borrowers and the soundness and liquidity of financial companies regularly to ensure thorough prevention."

Kim Dong-hoe, Vice Chairman of the Financial Supervisory Service, also stated, "Currently, the economic and financial situation is quite difficult, with high levels of inflation persisting, accelerated monetary tightening by major countries, and overlapping geopolitical risks such as the Ukraine crisis," and added, "through an emergency response system with the Financial Supervisory Service and the National Finance Center, we continuously monitor domestic and international financial market trends and risk factors, and we must meticulously review related countermeasures in advance so that market stabilization measures to prepare for market instability can operate promptly and respond as necessary."

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