FSC Chairman meets with insurance businessesDec 06, 2023

Chairman Kim Joo-hyun of the Financial Services Commission met with the CEOs of major insurance businesses along with Governor Lee Bok-hyun of the Financial Supervisory Service on December 6 as part of a series of meetings scheduled with financial sectors to ensure close communication and mutual understanding with the industry. At the meeting, Chairman Kim talked about the importance of corporate social responsibility among insurance businesses, changes taking place with the adoption of IFRS 17 and the importance of finding new ways to growth amid low birth and aging population and digital transformation. As high interest rates and inflation are causing difficulties for consumers, Chairman Kim said that insurance businesses could place more efforts to help alleviate these difficulties experienced by their customers.