Kim Byung-hwan "Virtual assets skyrocket in a short period of time...Close monitoring of unfair trade"

Kim Byung-hwan, chairman of the Financial Services Commission, said virtual asset prices are soaring in a short period of time and the market itself is volatile, so the government needs to closely monitor whether there is unfair trade.

Chairman Kim appeared on KBS Sunday Diagnostics today (24th) and said that money should come to the stock market when looking at the two markets regarding the transaction price of the virtual asset market exceeding the size of the stock market.

He also pointed out that the stock market recognizes that it is very important to the virtuous cycle of our economy, and that virtual assets need to look into more trading volume on virtual assets because there are questions about the positive impact on the real economy.

Regarding the possibility of fostering virtual assets like the United States, Korea said that now, the priority is how to relate the virtual asset market to the existing financial system and how to protect investors in the process.

Regarding the government's lukewarm response to the recent collapse of the 2,400-point KOSPI, he said, "Measures such as stock market stabilization funds are still in effect and institutions are ready to inject money whenever necessary, but we need to see the right timing."

Regarding the opposition's amendment to the commercial law, he agreed that corporate governance should be more transparent, but pointed out that it is necessary to look back on the negative impact on corporate management and capital markets as to whether the method is a revision of the commercial law.

Regarding the balloon effect in the secondary financial sector, which appeared as banks tightened lending, it said it was looking at the secondary financial sector to ensure that household debt growth could remain within manageable targets.