Financial Services Commission Vice Chairman: "Preparing to Restart the 증안 Fund... Timely Implementation of Volatility Mitigation Measures"

[Photo by Financial Services Commission]

[Asia Economy Reporter Lee Jung-yoon] The Financial Services Commission is preparing to implement measures to ease financial market volatility, including the reactivation of the Securities Market Stabilization Fund (Sang-an Fund).

On the 28th, Kim So-young, Vice Chairman of the Financial Services Commission, held a joint inspection meeting with the Financial Supervisory Service to reassess the current status of the stock market and other financial markets and discuss future response strategies.

At the meeting, Vice Chairman Kim urged preparations to timely implement measures to ease financial market volatility, including the reactivation of the Sang-an Fund. The Financial Services Commission has begun practical consultations with contributing institutions such as securities-related organizations regarding the reactivation of the Sang-an Fund. The Sang-an Fund refers to a fund jointly established by financial companies such as securities firms and banks, along with related institutions, to stabilize the stock market.

Additionally, in accordance with the previously announced corporate bond market stabilization plan, it was requested to promptly purchase corporate bonds and commercial papers (CP) issued by low-credit companies facing difficulties in market issuance, utilizing the purchasing capacity of corporate bonds and CPs secured by KDB Industrial Bank, IBK Industrial Bank, and the Korea Credit Guarantee Fund.

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