[THE INVESTOR] Seoul will review the country’s financial industry environment for any shortcomings vis-a-vis global standards, Financial Services Commission Vice Chairman Jeong Eun-bo said on July 20.

“(The financial authorities) will review whether there are elements in (South Korea’s) financial environment that fall short of global standards,” Jeong said at a meeting the chiefs of foreign financial institutions’ South Korean operations, saying that concerns are growing over their decision to reduce operations here.

12일 오전 서울 여의도 국회에서 경제상황점검TF 10차회의가 열린 가운데 정은보 기재부 차관보가 인사말을 하고 있다. 박해묵 기자/mook@heraldcorp.com
12일 오전 서울 여의도 국회에서 경제상황점검TF 10차회의가 열린 가운데 정은보 기재부 차관보가 인사말을 하고 있다. 박해묵 기자/mook@heraldcorp.com

Jeong also said that a taskforce for improving conditions for foreign FIs will be set up to ensure that regulatory changes can lead to cost reduction for them.

By Choi He-suk ()


koreaherald@heraldcorp.com