Lee Se-hoon, acting head of the Financial Supervisory Service, instructed on the 9th to check the status of debt adjustment for small business owners, which is a key promise of the Lee Jae-myung government, and urged, "Do your best to fulfill the financial promises made by the new government."
On the same day, acting head Lee held an executive meeting at the FSS headquarters in Yeouido, Seoul, to assess the economic and financial conditions following the launch of the new government and to discuss response measures.
Acting head Lee evaluated that revitalization of the financial and stock markets is urgent. He noted, "Our economy has significantly lost momentum, with negative growth in the first quarter in addition to a forecast of around 0% growth this year," and added, "The burden of debt on small businesses due to sluggish domestic demand and the delay in project financing (PF) due to the deterioration of the construction market are acting as destabilizing factors in the financial market." He further stated, "The stock market, which has shown signs of recovery recently, is still undervalued compared to major countries, and the polarization of funding conditions between quality and non-quality companies has intensified."
Acting head Lee stated, "We need to actively identify necessary improvements in financial practices and systems to restore the economy and regain market vitality as soon as possible." He instructed that the financial sector should actively review detailed tasks such as improving regulations on fund management so that idle funds in the market can circulate from stable real estate financing focused on interest margin into the capital market and productive sectors.