Lee Bok-hyun, Governor of the Financial Supervisory Service, "Autonomous support from the private sector is a great help in overcoming difficulties"

Lee Bok-hyun, Governor of the Financial Supervisory Service

[Asia Economy Reporter Song Seung-seop] Lee Bok-hyun, Governor of the Financial Supervisory Service (FSS), emphasized, "If the autonomous support efforts of the private sector, including financial companies, are added, it will greatly help overcome the current difficulties."

On the 5th, Governor Lee attended the 'Visiting KB SOHO Mentoring School' meeting held at the KB Kookmin Bank Yeouido headquarters in Yeongdeungpo-gu, Seoul, and stated, "As interest rates rise and the COVID-19 situation prolongs, the difficulties of small business owners and self-employed individuals continue." Regarding the roles of the government and the FSS, he said, "The government is preparing various support measures such as the New Start Fund," adding, "The FSS is also doing its best to reduce the financial burden on vulnerable groups by supporting the smooth execution of these measures."

Governor Lee continued, "Through the Small and Medium Enterprise Financial Difficulty Counseling Center, we will guide support measures tailored to borrowers' situations and work with relevant ministries to promptly improve any obstacles identified during consultations," promising, "We will operate an intensive counseling period to minimize confusion that may arise during the smooth transition of COVID-19 financial support."

Regarding KB Financial Group's Mentoring School, he evaluated, "It is very encouraging that the scope is expanding beyond financial economic support to non-financial services such as management consulting and employment support," and added, "As a management consulting program for the self-employed, it is becoming a good example that provides practical help to self-employed individuals." He also stated, "The Financial Supervisory Service will actively support the government's financial sector livelihood stabilization measures to ensure they proceed smoothly."

Governor Lee also said, "Since banks have recently prepared various programs to support vulnerable groups, please make greater efforts to establish internal counseling systems so that customers can easily obtain related information and choose appropriate support programs," and shared, "Since my inauguration, through various opportunities to meet with small and medium enterprises and small business owners, I have realized that the role of the financial sector is very important, especially at the frontline of the livelihood economy."

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