The FSC plans to hold a regular press briefing on every Thursday to present the most updated information on Korea’s financial policy and market situation. The first weekly regular press briefing was given by the chief of the Financial Policy Bureau at 2 PM, September 5th.
Along with the briefing, the Financial Policy Bureau gave out a 15-page handout illustrating in detail the current financial market conditions and upcoming events related to financial policies.
The Financial Policy Bureau chief emphasized that Korea is weathering the recent global market turmoil better than any other emerging markets thanks to its consistent current account surplus, strong fiscal soundness, sufficient foreign reserves, and low foreign currency debt. He went on by adding that though emerging markets are experiencing some difficulties at the moment such turmoil is not likely to cause another 1997-98 financial crisis.
Next week, the Consumer Finance and Protection Bureau will brief on microfinance and financial consumer protection.