[2022 National Audit] Lee Bok-hyun "Will Improve Interest Rate Reduction Request Right Before Next Disclosure"

Financial Supervisory Service Governor Lee Bok-hyun appeared at the National Assembly's audit of the Financial Supervisory Service held on the 11th and responded to lawmakers' questions. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporters Song Hwajeong and Song Seungseop] Lee Bokhyun, Governor of the Financial Supervisory Service, responded to criticism that the acceptance rate of the right to request interest rate cuts is low by stating, "We are researching improvement measures together with the banking sector and will strive to make improvements before the next disclosure announcement."

On the 11th, during the National Assembly's Political Affairs Committee audit, Lee answered a question from independent lawmaker Yang Jeongsuk, who asked, "Looking at the performance status of the right to request interest rate cuts in the first half of the year, the acceptance rate is particularly low for household loans. Do you plan to actively guide banks to increase the acceptance rate?"

Lee said, "It is the same in other countries that financial institutions earn significant profits during periods of interest rate hikes. However, there is a critical perspective on whether these profits are solely due to their own efforts, and I have requested the financial sector to share this awareness."

Regarding the restructuring of the financial supervisory system, Lee stated, "At a time when the need to overcome the financial crisis is great, mentioning system restructuring could make cooperation between institutions difficult," adding, "We are taking a cautious stance while weathering the storm."

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