Top 5 Landowners to Inject 95 Trillion Won by Year-End for Market Stability

Meeting between Financial Services Commission Chairman and Heads of 5 Major Financial Holding Companies

[Asia Economy Reporter Song Hwajeong] The five major financial holding companies?KB Financial, Shinhan, Woori, Hana, and NH?will provide a total of 95 trillion won in liquidity support by the end of this year in response to the government's request to stabilize the financial market. Additionally, until the market stabilizes, the Financial Services Commission chairman and the heads of the five major holding companies will regularly meet to monitor market conditions.

On the 1st, Financial Services Commission Chairman Kim Joo-hyun held a meeting with the heads of the five major financial holding companies to discuss the role of financial holding companies in stabilizing the financial market, supplying funds to the real economy sector, and supporting vulnerable borrowers.

The five major financial holding companies expressed their intention to contribute to market stabilization through a total of 95 trillion won (tentative plan) in market liquidity and affiliate company fund support by the end of this year. Specifically, this includes 73 trillion won for expanding market liquidity supply, 12 trillion won for participation in bond stabilization funds and securities market stabilization funds, and 10 trillion won for fund supply within holding group affiliates.

Furthermore, the five major holding companies will actively expand fund supply to small business owners, small and medium-sized enterprises, and large corporations, while also seeking and preparing support measures for vulnerable borrowers.

Chairman Kim emphasized, "The recent bond market instability has not worsened further due to market stabilization measures amounting to 50 trillion won plus alpha," adding, "For government measures to be effective, the roles and responsibilities of holding companies and affiliated financial institutions, which have a large share in the financial market and maintain soundness and liquidity, are significant."

The Financial Services Commission chairman requested the financial holding company heads to ▲ supply liquidity for financial market stabilization ▲ continuously provide credit for fund supply to the real economy sector ▲ support vulnerable borrowers.

Until the market stabilizes, the Financial Services Commission chairman, the heads of the holding companies, and the chairman of the Korea Federation of Banks will formalize the 'Financial Services Commission Chairman?Five Major Holding Companies Heads Meeting' as a regular biweekly event to monitor market conditions.

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