April 25, 2024
Economy
Gov’t forms task force to promote trust biz
[THE INVESTOR] South Korea’s financial authorities said on Feb. 8 that an inter-agency task force has been formed to promote the trust business.
The team is tasked with laying the groundwork for drafting a related bill and will include officials from the Ministry of Strategy and Finance, the Ministry of Justice and the Financial Services Commission.
“In accordance with the social and economic change of the aging population, low interest rates, and a combination of financial services, demand for an active role by the trust business continues to grow,” said Kim Yong-beom, head of the FSC’s secretariat, at its kick-off meeting.
The task force plans to hold regular meetings for the next four months to review policies to boost the trust market. The government will then submit a bill within this year after joint research by relevant public and private think tanks.
(theinvestor@heraldcorp.com)
The team is tasked with laying the groundwork for drafting a related bill and will include officials from the Ministry of Strategy and Finance, the Ministry of Justice and the Financial Services Commission.
“In accordance with the social and economic change of the aging population, low interest rates, and a combination of financial services, demand for an active role by the trust business continues to grow,” said Kim Yong-beom, head of the FSC’s secretariat, at its kick-off meeting.
The task force plans to hold regular meetings for the next four months to review policies to boost the trust market. The government will then submit a bill within this year after joint research by relevant public and private think tanks.
(theinvestor@heraldcorp.com)
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