Financial industry leaders gathered to mark the New Year, stressing the role of finance and pledging to make a leap forward despite domestic and external uncertainty.

Six broader financial associations - the Korea Federation of Banks, the Korea Financial Investment Association, the Korea Life Insurance Association, the General Insurance Association of Korea, the Korea Credit Finance Association and the Korea Federation of Savings Banks - held the 2026 New Year gathering for the broader financial sector on Jan. 5 at the Crystal Ballroom on the second floor of the Lotte Hotel in Sogong-dong, Jung-gu, Seoul. About 600 people attended, including heads of financial companies, government officials, lawmakers, journalists and heads of related financial institutions.

At the event, Deputy Prime Minister Koo Yun-cheol said 2026 must be the first year of a major leap for the South Korean economy by rebounding potential growth and overcoming polarisation. He stressed that the role of finance is more important than ever.

He said the government will start supplying an annual 30 trillion won National Growth Fund through the full-scale rollout of productive finance to invest in new industries, including AI. He also said it will strengthen tax incentives for venture and innovation capital such as BDCs and KOSDAQ venture funds. Koo said the government will also focus on activating social solidarity finance, including the spread of win-win finance programmes, and strengthening risk management in financial and foreign exchange markets.

Lee Eok-won, chairman of the Financial Services Commission, stressed productive and inclusive finance and finance that earns trust. He urged the sector to have the mindset of recognising and discovering hidden value so finance can lead a major leap for the South Korean economy.

Financial Supervisory Service Governor Lee Chan-jin also called for a shift from post-hoc relief for a small number of victims to pre-emptive protection for financial consumers. He urged the sector to embed inclusive finance as a sustainable management culture so vulnerable groups suffering from high interest rates and high prices can have a warmer year, and to pay special attention to activating productive finance.

Bank of Korea Governor Rhee Chang-yong said monetary policy will be managed with greater precision while closely checking a range of economic indicators. He stressed that if people unite with one heart and one mind, they can get through it.