Seoul: The chief of the country's financial watchdog emphasized the importance of asset management companies designing financial products that clearly inform investors of their associated risks to ensure better consumer protection.
According to Yonhap News Agency, during a meeting with the heads of 20 asset management firms, Lee Chan-jin, governor of the Financial Supervisory Service (FSS), highlighted the necessity for asset management companies to contribute to productive finance in order to bolster the economy.
Lee underscored that asset managers should earn the trust of investors by adhering to sound market principles and fostering fair competition. Furthermore, he assured that the FSS will provide full support for innovative financial products and the efforts of asset managers to cultivate an environment conducive to long-term investments.