2011 F P A Press Release e

(1)

Financial www.fsc.

Press

Decemb

The Fin objectiv FSC Ch discussi and gov for low- Six Key

I. Preem 1.

2.

l Services Co .go.kr

Release

ber 14, 2010

nancial Serv ves for 2011 hairman Chi ion with fin vernment of -income hou y Objective

mptive Acti Taking pree

 Properl and elim longer-

 Prevent busines been re bad PF

 Expand insuranc premium and stre (KDIC) Strengthen year-round

 The FS enhanc liquidit

ommission

e

0

2011

vices Comm 1 to Presiden

in Dong-So nancial comp

fficials on h useholds.

es for 2011

ions against emptive me ly manage t minate syste

term, fixed t PF loans f ss feasibility ecklessly pro loans as ea d financial re

ce jointly he ms (from 0.

engthening t ).

ing measure d corporate r SC will stren e Korea’s fo ty into one m

F

INANC

mission (FSC nt Lee Myu

o unveiled t panies for lo ow to impro

t Market Ri easures to ad

he pace of h emic vulner

rates or allo from being i

y and reform oviding pay arly as possi estructuring eld by indiv 35% to 0.40 the supervis

es to respon restructuring ngthen its m

oreign exch market. We

1

CIAL

P

OL

C) has made ung-Bak on the FSC’s 2 ow-income ove the prac

sks ddress prob household d rabilities of owing borro insolvent by ming constru yment guara

ible.

g funds by c vidual finan 0% for savi sion of the K

nd to interna g program monitoring o

hange sound will also re

LICY

A

G

e a publicly December 2011 policy

households ctical effect

blems in hou debt growth f household owers to pay y conductin

uction comp antees; and e

creating a co ncial sectors

ings banks);

Korea Depo

al and exter

of financial dness and to eview our co

ENDA

open prese 14 at the Bl agenda and s, the genera tiveness of f

usehold deb h not to incre

debts by ex y off princip ng a more th

panies’ prac encourage b

ommon acco s; raising de

; securing re osit Insuranc

rnal risks an

markets and o prevent the ontingency

ntation of it lue House.

d had in-dep al public, ex financial sup

bts and PF lo ease exceed xtending loa pal in instal horough revi ctices that h banks to wr

ount for dep posit insura estructuring ce Corporat

nd conductin

d measures e tipping of plans to cou

ts policy

pth xperts,

pport

oans dingly ans at

llments.

iew of have

ite off

posit ance g funds,

tion

ng a

to f capital

unter

(2)

II. Stren 1.

2.

3.

crises s

 Continu of credi under r ngthened Su

Expanding

 Closely oversea

 Revise could b more pr agencie mandat Strengthen

 Provide and inc potentia

 Extend compan

 Help th SMEs c

 Expand effect.

Facilitating

 Diversi encoura burden

 Relax t KOSDA designa

ommission

such as Euro ue to condu

itors and su restructuring upport to the g financial s y work with as projects s the green fi be enlarged

rivate inves es share inv torily post th ning financi

e SMEs wit crease our su

al.

the Fast Tr nies with gr he KODIT a could get gu d financial s

g corporate ify the types age compan

of bond iss the requirem

AQ, and fur ated advisor

ope’s fiscal uct a year-ro upplement th

g.

e Real Econ support for c h other relate such as buil finance supp

to include c stment into t estment risk heir progres al support f h a total of upport parti

rack Program rowth poten and the KIB uaranteed lo support for s

funding thr s of corpora nies to issue sue fees.

ments for the rther develo ry companie

2

crisis or ge ound corpor he current s

nomy core industr ed institutio ding nuclea port system companies i the green fi ks (e.g. P-C ss in green m for SMEs an

KRW 92.3 icularly for

m by anothe ntial.

BO establish oans best su start-ups an

rough capita ate bonds th e bonds with

e new-grow op the Free B

es.

opolitical ri ate restructu ystem to re

ries for the f ons to facilit ar power pla so that the b in demand f

nance secto CBO) and re managemen nd job creat

trillion, larg promising S

er year to pr

h an interme uit their need nd the indust

al markets hat listed com

h long-term

wth, green in Board mark

isks on the K uring progra flect the int

future tate financia ants or high

beneficiarie for green fac or by makin equiring com

nt.

tion ger than the SMEs with

rovide finan

ediary system ds.

tries with h

mpanies can maturities

ndustries to ket by introd

Korean Pen am led by a terest of com

al support f h-speed railw

es of green f cilities, and ng governme

mpanies to

e pre-crisis l high growth

ncial suppor

m under wh

igh job crea

n issue and by easing th

be listed on ducing a sys

ninsula.

a group mpanies

for ways.

finance d attract

ent

level, h

rt to

hich

ation

heir

n the stem of

(3)

4.

III. Esta 1.

2.

3.

IV. Sett 1.

Creating a

 Ease re and enc birth ra ablishment o

Strengthen

 Plan to 2011 to

 Revise repairs individu Establishin

 Bring n open un and rev

 Strengt account Setting a n regulatory

 Create abusing standar tlement of S

Settlement

 For ‘M by-visit interest

 For ‘Su hazards screenin

ommission

financial sa egulations o

courage the ates and help

of Fair Fina ning protecti submit the o provide fin auto insura or medical uals’ risk fo ng fair mark needed refor nder false n viewing best

then regulat ting fraud.

new model o reform a new claus g their right rds for intern Support for L t of previou

iso Microcr ts to enhanc t rate reduct unshine Loa s will be str ng capacity

afety net for n private pe developme p retirees fin ancial Syste

ion of finan Financial C nancial serv ance-related treatments, or accidents ket practices

rms to preve name by enh

t practices.

tions agains

of financial

se in the FS s to investig nal reportin Low-Incom sly implem redit Banks ce accessibi tions for fai ans’, more c engthened a y.

3

r an aging s ensions such ent of variou nancially w m

ncial service Consumer P vices consum d regulations

, adjusting i .

s and regula ent financia hancing the

t unfair trad

supervision

CMA to pre gate an act o ng in regard me Househol ented suppo

’, expand th ility as well thful borrow capital will b as well as th

society with h as individ us financial well prepared

es consumer Protection A mers with st s to cut sale insurance pr

ations al transactio

effectivene

ding, violati

n to proceed

event the fin of unfair tra

with on-sit lds

ort measure he number o

as cost effe wers.

be injected he financial

h low birth r dual and cor products th d.

rs

Act to the Na trengthened es costs, prev

remiums ac

ons through ss of custom

ion of postin

d with the G

nancial auth ading; and e te investigat

s

of one-man- ectiveness a

and measur institutions

rates rporate pens hat would bo

ational Asse d protection

vent excess cording to

illegal acco mer due dili

ng regulatio

G20 financia

horities from establish cle

tions.

-branches an and review p

res to preven s’ applicatio

sions oost

embly in .

sive car

ounts igence

ons, and

al

m ear

nd drop- possible

nt moral on

(4)

2.

V. Adva 1.

2.

 For ‘Tr KAMC

 Enhanc moral h

 Expand the borr enterpr Alleviating

 Lower 39% an

 Arrang without ancement in Successful

 A joint on finan relevan

 Activel discuss countri Taking the

 Push ah includin internal

 Enhanc of large the stoc

 Enhanc criteria savings

ommission

ransfer Loan CO branches ce informati hazards such d repayment

rowers and ises.

g debt repay the legal ce nd reduce cr e a special p t filing a law n Financial

lly impleme private/pub ncial reform nt laws.

ly participat ion on macr es’ standpoi e G20 Summ

head with th ng strengthe l complianc ce regulation

e position ho ck markets.

ce regulation for asset so s banks.

ns’ for low-c s to all bran ion sharing h as overlap t schedules strengthen

yment burde eiling on int

redit card se process for wsuit.

System enting the G blic task for m by the G2

te on the glo ro-prudenti int that we h mit as an op

he reform fo ening super ce, and eligi n on post-m oldings to a

n on mutual oundness an

4

credit holde nches of six

between su pping loan a

and grace p credit recov

en and prev erest charge erving charg victims of ‘

G20 financia rce will be f 20, and mak

obal financi al measures have propos portunity to or corporate rvision over ibility of bo margins for d

alleviate sett

l savings ba nd reducing

ers, expand national ban upporting fin

acquisitions periods to m

very suppor

venting finan es by privat ges for merc

‘voice-phish

al reform ini formed to ta ke specific a

ial reform d s and reform sed.

o set up fina e governanc r board of di

ard membe derivatives,

tlement risk

anks through excessive l

its network nks (approx nancial insti s.

match with th rt for individ

ncial fraud te loan comp

chants.

hing’ to reco

itiatives ackle on the action plans

discussions a ms geared to

ancial infras ce of financi irectors, risk

rs.

position lim ks and extre

h bolstering loan limits f

k from just 2 x. 5,400 bra

itutions to p

he income l duals and sm

panies from

ollect their

agreements to start rev

and lead the owards eme

structure ial institutio k managem

mits, and rep eme volatilit

g classificat for higher-g

24 anches).

prevent

level of mall

m 44% to

money

s made ising

e erging

ons ment,

porting ties in

ion grade

(5)

VI. Enh 1.

2.

3.

For furt Lee, J. E Spokesp Foreign Financia Tel: +82 Fax: +8 E-mail:

hanced Glob Promoting

 Banks a private expand

 To prom regulati partially

 Insuran and imp Devising u

 Establis the Kor as send Continuing

 Promot relation infrastr

ther inquirie Ernst person, Fore n Press & Re al Services 2-2-2156-95

2-2-2156-9 happyhero@

ommission

bal Compet g internally s

are encoura banking an d overseas.

mote specia ion on ‘prim y be eased.

nce compani prove on th up a blueprin

sh a special rean accoun d experts int g efforts on te awarenes ns and creat ructure.

es:

eign Media elations Off Commissio 582

9589

@korea.kr

titiveness sound grow aged to first nd retiremen

alization and me broker’ w

ies will be r e sales com nt to becom l committee nting firms w

to soon-to-b creating a r s on Korean e incentives

fice on

5

wth in the fin build up th nt planning,

d diversity i will be reorg

required to mmission stru

me a powerh e on how to will be able be-adopting

regional fin n financial m s for financi

nancial indu eir capacity and then lo

in earnings f ganized and

increase dis ucture.

house in acc develop the e to and expa

IFRS count nancial hub

markets thro ial institutio

ustry y on new bu ook towards

for financia d its entry re

sclosure on

counting ind e accounting

and busines tries in Asia

ough hostin ons through

usinesses su s strategies t

al institution equirements

insurance p

dustry g industry s ss overseas a.

ng more inv h improving

ch as to

ns, s will

products

so that as well

estor social