Lee Eokwon Meets Citigroup CEO, Requests Stronger Financial Support for Innovative Companies

Jane Fraser, Chairperson of the Board and CEO of Citigroup, Visits the Financial Services Commission
Lee Eokwon: "The Korean Government Is Pursuing a Major Transformation in Productive Finance"

Lee Eog-weon, Chairman of the Financial Services Commission (right), met with Jane Fraser, Chairperson of the Board and Chief Executive Officer (CEO) of Citigroup, at the Government Seoul Office on the morning of the 30th. Chairman Lee requested CEO Fraser to strengthen financial support for innovative companies in Korea. Photo by Financial Services Commission

Lee Eokwon, Chairman of the Financial Services Commission, met with the Chief Executive Officer (CEO) of the global financial institution Citigroup and requested strengthened financial support for innovative companies in Korea.

The Financial Services Commission announced that on the morning of the 30th, Chairman Lee held a meeting with Jane Fraser, Chairperson of the Board and CEO of Citigroup, at the Government Seoul Office.

Chairman Lee expressed his gratitude for CEO Fraser's visit to Korea for the '2025 Asia-Pacific Economic Cooperation (APEC)' event, noting that it came just one month after her attendance at the 'Korea Investment Summit' hosted by President Lee Jaemyung at the New York Stock Exchange (NYSE) on September 25.

He explained, "The current administration is actively pursuing a major transformation in productive finance by channeling funds concentrated in real estate into the capital market and strengthening funding at each stage of corporate growth."

He continued, "I ask Citibank Korea to enhance corporate financing support for domestic innovative companies and request continued interest and support at the group level. If there are any difficulties as a foreign financial institution, we will keep the lines of communication open and make efforts to resolve them."

CEO Fraser congratulated Chairman Lee on his appointment and stated, "Korea is not only an important partner country for the United States politically and economically, but also one of the core countries for Citigroup's global business."

She added, "Korea has strong competitiveness in future-oriented industries such as artificial intelligence (AI), shipbuilding, and automobiles, as well as a well-established financial infrastructure. Therefore, the Korean stock market has significant growth potential and development prospects. Citigroup will continue to support the Korean capital market going forward."

Meanwhile, Citigroup is a leading global financial institution, ranking among the top three of the 29 Global Systemically Important Banks (G-SIBs) announced by the Financial Stability Board (FSB) for 2024. Citigroup was the first foreign bank to enter Korea in 1967 and has contributed to the growth of the domestic banking industry by introducing various financial services for the first time in Korea, such as private banking (PB) in 1989, 365-day automated service corners in 1990, and debit cards in 1993.

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