FSS chief again highlights productive, inclusive finance

FSS chief again highlights productive, inclusive finance SEOUL, May 15 (Yonhap) -- The chief of the country's financial watchdog on Friday urged financial institutions to play a great role in productive and inclusive finance. "Financial institutions should not be indulged in a way of earning interest income easily," Lee Chan-jin, governor of the Financial Supervisory Service (FSS), said during a meeting with members of its advisory panel. To that end, the watchdog will closely monitor household debts and property-related loans to prevent excessive capital inflows into the property market, he said. Also, Lee stressed that his agency will get tougher against unfair market practices, while continuing measures for a capital market advance. The FSS governor said it will further draw up measures to strengthen the social safety net for the underprivileged by prodding financial institutions to better focus on inclusive finance. Earlier, the country's top banking groups said they would implement 70 trillion won (US$46.9 billion) worth of inclusive finance schemes for the underprivileged, small merchants and those facing finance access difficulties. sam@yna.co.kr (END) - BTS to headline halftime show at 2026 World Cup final - (LEAD) Ruling party fails to push through constitutional amendment bill amid opposition boycott - PPP leader says public concerned about Lee's 'hasty' push to retake wartime troop control - (News Focus) Local brokerages beef up preparations for omnibus accounts amid KOSPI surge - (LEAD) N. Korean troops march in Russia's Victory Day parade for 1st time - (News Focus) Confirmed strike on vessel may reshape Seoul's stance on joining U.S.-led Hormuz mission: experts - Trump says, 'I love S. Korea,' after Seoul, Washington sign MOU on shipbuilding cooperation - Budget airlines cut 900 round-trip flights, implement other cost-cutting measures amid soaring oil prices - (3rd LD) Seoul concludes 'external strike' caused explosion on HMM vessel in Hormuz - (2nd LD) Cheong Wa Dae says any attack on civilian ships in Hormuz cannot be tolerated - (6th LD) U.S., China agree Iran can never have nuke, Strait of Hormuz must remain open: White House - Lee calls S. Korea, U.S. 'most important partners' after meeting with Bessent - (5th LD) U.S., China agree Iran can never have nuke, Strait of Hormuz must remain open: White House - U.S., N.K. appear unprepared for summit, but possibility cannot be ruled out: Seoul official - S. Korea seeks OPCON transfer breakthrough via presidential office-level talks: source