FSC Chief Kim Byung-hwan: "Core Role of Finance Crucial Amid Uncertainty… Full Efforts for Market Stability"

Financial Services Commission (FSC) Chairman Kim Byung-hwan on April 7 emphasized the importance of financial institutions fulfilling their fundamental role to help stabilize the market amid rising uncertainty in domestic and global economies, industries, and financial markets due to the United States’ imposition of reciprocal tariffs.

Chairman Kim presided over a “Financial Market Situation Review Meeting” at 8 a.m. at the FSC main conference room in the Seoul Government Complex. He stated, “In times like these, finance must stay true to its essential function to maintain market stability and ensure seamless financial intermediation.”

The meeting was attended by key figures from the financial sector, including the Governor of the Financial Supervisory Service, chairmen of the five major financial holding companies, heads of policy finance institutions and related agencies, as well as leaders of financial associations.

Chairman Kim stressed, “With just over two months remaining before the new administration takes office, it is crucial to manage our economy and financial markets in a stable manner,” and he urged the financial holding companies and policy financial institutions present to take a leading role in stabilizing financial markets and actively supporting the real economy, including businesses.

He further stated, “Export companies directly affected by the U.S. tariffs, as well as their partner firms, are likely to face management difficulties,” emphasizing the need for close monitoring of the conditions of trading companies on the ground and timely provision of necessary funding and support.

Chairman Kim also noted, “Depending on market conditions, we will ensure the readiness and execution of a market stabilization program worth around KRW 100 trillion, including liquidity supply measures,” and pledged that, “Policies previously announced or currently being implemented will proceed as planned to firmly establish market trust.”

He added, “We will also accelerate efforts to create a KRW 50 trillion fund for advanced strategic industries to counter the trade war and support the sustainable growth of our economy.”

In conclusion, Chairman Kim said, “Now is the time for the financial sector to once again fulfill its responsibilities,” and requested the active cooperation of all attendees.