Reshuffle of top financial regulators likely
Posted : 2021-04-02 16:03
Updated : 2021-04-05 09:41
Financial Services Commission Chairman Eun Sung-soo, center, answers to questions from lawmakers during the National Policy Committee meeting at the National Assembly in Seoul in this February file photo. With him is Financial Supervisory Service Governor Yoon Suk-heun. Korea Times photo by Oh Dae-geun
By Park Jae-hyuk
The replacement of the heads of the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) has become highly probable, since the administration appears to be carrying out a cabinet reshuffle if the ruling party candidates lose the April 7 mayoral by-elections in Seoul and Busan.
Reshuffle of top financial regulators likely
Posted : 2021-04-02 16:03
Updated : 2021-04-02 16:07
Financial Services Commission Chairman Eun Sung-soo, center, answers to questions from lawmakers during the National Policy Committee meeting at the National Assembly in Seoul in this February file photo. To his right is Financial Supervisory Service Governor Yoon Suk-heun. Korea Times photo by Oh Dae-geun
By Park Jae-hyuk
The replacement of the heads of the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) has become highly probable, since the administration appears to be carrying out a cabinet reshuffle if the ruling party loses the April 7 by-election.
Urging support for customer protection law
Posted : 2021-04-01 16:51
Updated : 2021-04-01 16:51
Financial Services Commission Chairman Eun Sung-soo, center, poses with participants in a meeting at the Korea Federation of Banks headquarters in Seoul, Thursday. He urged bank executives to make efforts to help the Financial Customer Protection Act take root as soon as possible. From left are Financial Supervisory Service (FSS) Senior Deputy Governor Choi Seong-il, FSS Financial Customer Protection Bureau Chief Kim Eun-kyung, Eun, Industrial Bank of Korea CEO Yoon Jong-won and Hana Bank CEO Park Sung-ho. Yonhap
SsangYong reorganization stalls as main lender locks horns with new investor
Posted : 2021-03-07 14:56
By Lee Min-hyung
Cash-strapped SsangYong Motor s reorganization plan is making little progress as main creditor Korea Development Bank (KDB) locks horns with the automaker s new investor, HAAH Automotive.
The U.S.-based vehicle distributor is known to have presented a plan to provide $250 million (282 billion won) financial aid for SsangYong s possible revival under the precondition that KDB offers a similar amount of financial support.
HAAH Automotive projected that SsangYong would incur losses of around 500 billion won to 600 billion won over the next two years before the investor completes legal and regulatory preparations for the sale of SsangYong vehicles in the U.S.