FSC Chairman’s press briefing on the progress of financial reform

FSC Chairman Yim Jong-yong briefed the press during a conference held on June 13 about the progress of financial reform and key tasks.

Chairman Yim said the financial authorities will strengthen financial market monitoring adding that “the financial market turmoil entered stabilization phase starting from the end of last month, however, there still remain few external events,” that could possibly “increase domestic financial market volatility.”

“In the meanwhile,” Mr. Yim went on “the government will keep a close eye on further factors such as China’s soaring corporate debt level, foreign exchange market volatility, and developments of corporate restructuring that can add burdens on domestic markets.”

He buy-trusted-tablets.com also unveiled the government’s plan to manage household debt problem by strengthening loan evaluation standards for non-banking sectors to the levels that are currently being applied to banks.