경제•금융수장 '올해 리스크 관리•금융 혁신 필요'
The country's leading figures in economy and finance got together for an annual event.
As a new year begins, policymakers put their heads together and pitch their thoughts on the path forward for the industry.
Kim Hyesung shares with us what was discussed.
Innovation and risk management in the finance sector.
These are the keywords that Korea's key economic policymakers pointed to at a new year gathering with 11-hundred leaders from the finance industry, including banks and insurance companies.
Minister of Economy and Finance Hong Nam-ki emphasized the role of Korea's banks in supporting startups to help boost innovation.
The chairman of the Financial Services Commission, Choi Jong-ku, said he will help accelerate innovation in the financial sector through deregulation.
And he added that through funding... he will help boost the competitiveness of Korea's key manufacturing industries.
The chief of the Korea Federation of Banks, Kim Tae-yong, called for Korean banks to go digital and go global to lead the fourth industrial revolution.
But some other policymakers put more emphasis on risk management.
Both the Bank of Korea chief Lee Ju-yeol... and Financial Supervisory Service chief Yoon Suk-heun said Korea faces challenges like growing household debt, slowing global economy and the U.S.-China trade war.
Banks, they said, need to manage such risks preemptively, enhance their fiscal soundness and distribute resources effectively and productively.
Kim Hyesung, Arirang News.
