Financial Service Commission Chairman-Designate Kim Byoung-hwan’s Policy Priorities and Background

Financial Service Commission Chairman-Designate Kim Byoung-hwan to Focus on Real Estate Project Financing and Corporate Value-up Program

In a recent announcement, market watchers revealed that the soft-landing of real estate project financing vulnerabilities and the full implementation of the Corporate Value-up Program will be the top policy priorities for Financial Service Commission chairman-designate Kim Byoung-hwan.

Kim emphasized the importance of addressing the risk of real estate project financing, stating that measures to aid businesses with high leverages have been put in place over the past six months. He expressed confidence that continued efforts will lead to a full soft-landing in the latter half.

The Corporate Value-up Program, a financial policy initiative of President Yoon Suk Yeol, aims to reinvigorate the Korean equity market. Kim, who previously served as a director of financial policy at the Ministry of Economy and Finance, has a track record of introducing successful financial policies, such as the Asset Securitization Act and Primary Collateralized Bond Obligations.

Kim, currently the first vice finance minister, will replace the incumbent Kim Joo-hyun. With a background in economics from Seoul National University and a master’s degree from the University of Birmingham, Kim brings a wealth of experience from previous stints at the Organisation for Economic Co-operation and Development and the Inter-American Development Bank.

“I feel a deep sense of responsibility at a time of great importance. I will do my best at the confirmation hearing,” Kim said in response to his designation.

As Kim prepares to take on his new role, the financial industry will be closely watching his efforts to address real estate project financing vulnerabilities and revitalize the Corporate Value-up Program.