Third meeting of Committee for Financial Innovation

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Committee for Financial Innovation met for its second meeting on Tuesday, October 21 to check the current performances to achieve the Park Geun-hye administration’s ‘Three-year Economic Plan’ and ‘Creative Finance.’

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Centered by FSC Vice Chairman, Jeon Chan-woo, the committee evaluated that the FSC has been successfully laying out foundation to reach the government’s goal. In particular, TCBs gave out 3,200 technology loans, reflecting that the government’s technology finance has already taken deep root in the financial sector.

Growth Ladder Fund provided necessary fund worth 310 billion won to start-up and venture companies. Moreover, the government provided assistance to 63 small-sized firms to be listed in the KONEX market to raise fund.

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Aside from such milestone achievements, there also have been noticeable results by the government to improve bank governance structure, abolish banks’ out-dated financial practices, and streamline inspection and sanction scheme.

The committee will meet again on October 29 to further develop the proposals raised during the second meeting.

 

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