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Sunday, January 29, 2023

Lee Bok Hyun, head of the Financial Supervisory Service: “Lime and Optimus scandal, check again”

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“I am aware of private investment cases that cause a problem”
“Carefully check if there is room for an overview of the system”
“Verification of household debt risk after taking office”

Bok Hyun Lee, the new head of the Financial Supervisory Service, arrives at the Yeouido office on the 8th.

The new head of the Financial Supervisory Service, Lee Bok-hyun, said he would check for additional problems with the Lime and Omtimus funds. He said the first thing he checked after taking office was the risk zone associated with “household debt”.

On the 8th, when the new President Lee visited the FSS press room and asked if he would like to see the Lyme and Optimus incidents again, he said, “I understand that all private investment issues have been covered by individual fund cases. and it’s already gone.” I know there are concerns and the FSB will carefully check if there is a place to view the system.”

While the review and sanctions on the fund’s situation have been completed, community groups have been critical of additional issues, so it is believed that they have expressed a desire to look into the whole thing if necessary.

Regarding the remark that the new head of the Financial Supervisory Service will focus on inspections and investigations, in contrast to former FSB director Jung Eun-bo, Lee said, “There is no indication that we will further strengthen post-mortem investigations or surveillance.” ,” he said.

However, he added: “The nature of the financial industry does not allow regulation to disappear altogether.”

In addition, the new President Lee said, “I will consider how to make the promotion of the financial market and the regulatory system a predictable and reasonable part without compromising the stability of the financial market.”

Regarding concerns about a home loan failing, he said, “That was the first thing I saw.

When asked if President Yoon Seok Yeol asked for anything, he said, “I haven’t received any individual messages.”

Meanwhile, at the opening ceremony the day before, he stressed that “the eradication of unfair trading practices enhances confidence in the market order” and that “the same stringent standards will apply to market turmoil.”

Reporter Lee Yeon-woo lee.yongwoo1

Source: Economist

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