Head of Economic and Finance (F4), "Efforts to produce tangible results for value businesses"

Economic and financial chiefs have decided to make efforts to achieve tangible results on improving governance and tax support related to value-up when the ruling and opposition party-government consultative body is in operation.

Deputy Prime Minister for Economy Choi Sang-mok, Bank of Korea Governor Lee Chang-yong, Financial Services Commission Chairman Kim Byung-hwan and Financial Supervisory Service Chairman Lee Bok-hyun made the remarks at an emergency meeting on macroeconomic and financial issues at the Federation of Banks in Seoul this morning.

Participants said that the Bank of Korea, which has supplied 19.6 trillion won in short-term liquidity since the martial law crisis, will additionally purchase repurchase bonds in the event of market instability, and the second value-up fund worth 300 billion won will be executed quickly as the fund creation agreement was completed on the 20th.

As for the foreign exchange market, the government will move quickly to raise the limit on foreign exchange forward positions and exchange swaps with the National Pension Service by this month, and ease restrictions on foreign currency loans for residents of foreign exchange banks will be completed by next month to ease regulations on foreign exchange inflows.

In addition, following last week's reduction in card commission rates for small business owners and self-employed people, the government decided to quickly push for financial support for small business owners and self-employed people by announcing financial support measures tailored to small business owners in the banking sector today.