Vice Chairman Kim Soyoung of the Financial Services Commission held a meeting with a group of CEOs representing foreign financial companies operating in Korea on January 22. At the meeting, Vice Chairman Kim discussed the government's regulatory reform initiatives intended to promote and facilitate the entrance of overseas-based financial companies into domestic market with a goal to boost competition and innovation. The FSC plans to look into areas where regulatory reforms are needed after having a series of meetings with each financial sector and announce regulatory reform agendas thereafter. In drawing up specific measures, the FSC will take into account suggestions and recommendations raised by foreign financial companies.