FSC Chairman’s Meeting with Foreign Financial Institutions (by Kwon Min Jung)

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– Writing by Kwon Min Jung

July 4, 7:30 AM, chairman of the Financial Services Commission held a meeting, inviting CEOs of foreign financial company at Westin Chosun Hotel, Seoul. We, reporters of the Financial Services Commission, arrived early and waited for the meeting to start. From the hotel front door, it was crowded with reporters covering the event. Executives and related officers in suits and ties were all waiting with a little bit of tension having the meeting ahead. Chairman Shin finally arrived with short greetings with executives and officers. After brief greetings with the CEOs, chairman Shin started his speech. He mainly asked the CEOs to cooperate with the FSC’s ongoing financial policies and also promised to add more flexibility to the financial system, to make the managements of foreign financial companies easier in several fields of the Korean financial market. Chairman Shin first introduced the main point of the new government: creation of jobs, strong and sturdy financial system, and inclusive financial policy for working class.

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