Chairman’s Message

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“Korea’s financial industry has grown with the development of our economy. In the process, the Financial Services Commission fulfills its mission to maintain financial market stability, respect the role of financial markets, ensure fair market order, and thereby contribute to the economic growth.

The Moon Jae-in administration embarked on the new journey for a better country with the pledge of “equal opportunity, fair process, and just outcome.” I believe this is the right direction the new government’s financial policy must pursue. “Equality” in finance will be translated into better financial services and greater financial inclusion that benefit as many consumers as possible. “Fairness” in finance starts with respecting market principles and establishing fair order. A “just outcome” in finance is achieved only when all players in financial markets do their best in their role to ensure trust in the financial sector.

The FSC set out three principles for financial policy under the Moon administration. First, finance for “productive” investment will be pursued。 The FSC will channel funds to innovative businesses to boost growth potential and create jobs. The financial sector will also become a job creator with new and innovative financial services.

Second, trust in finance will be strengthened. The FSC will ensure greater autonomy for financial institutions and stronger protection for financial consumers. Financial stability is a prerequisite for sustainable growth of the financial sector. To this end, the FSC will remain vigilant at all times to detect and respond timely to risk factors.

Last but not least, financial inclusion will be expanded. Finance shall take greater social responsibility corresponding to its growth. The FSC will make sure benefits of our financial policy trickle down to financially-marginalized households.

The FSC will always listen carefully to the voices of financial institutions and consumers to reflect them into our financial policy.

Choi Jongku Chairman, Financial Services Commission