Lee Bok-hyun, Head of Financial Supervisory Service, "Achieving Responsible Digital Innovation through Advancement of Virtual Asset Supervision System"

Lee Bok-hyun, the head of the Financial Supervisory Service, announced plans to focus on building a digital innovation ecosystem, including virtual assets (cryptocurrency), in the new year of 2025.

Lee Bok-hyun revealed this plan in his New Year's address on January 1, 2025.

Additionally, Lee Bok-hyun stated, "We will continue to manage and supervise the financial system to operate independently and systematically, unaffected by the political environment."

He mentioned the re-election of Trump and the recent unstable political situation in Korea, explaining, "In 2025, concerns may expand across the real economy and financial markets of our country, potentially damaging external credibility." He continued, "Now, more than ever, 'financial market stability' and 'consumer protection' are paramount," adding, "This year, the Financial Supervisory Service has chosen stability, coexistence, and the future as its core themes."

He also expressed his intention to strengthen the supervision system for virtual assets. Lee Bok-hyun stated, "With the rapid development of digital technology, extensive changes are expected across all areas of the financial industry," and conveyed his commitment to building a responsible digital innovation ecosystem. He emphasized, "While actively supporting digital innovation in the financial industry, such as supporting the supply of high-quality AI learning data and inducing the establishment of a joint AI platform in the financial sector, we will also enhance the supervision system for virtual assets and establish IT operation governance in the financial sector to prevent any regulatory gaps related to new technologies."