Chairman Kim Joo-hyun of the Financial Services Commission presided over an event commemorating five years of operating the regulatory sandbox program during which more than 300 "innovative financial services" have been designated. Since the regulatory sandbox program was first introduced in April 2019, the companies selected for "innovative financial services" have made significant contributions to the growth of the fintech industry by creating 2,220 new jobs and securing KRW6.03 trillion in new investments. In his speech, Chairman Kim praised highly about the milestone achieved over the past five years and pledged that the authorities will continue to work on making improvements to the operation of the sandbox program and provide strong support for innovative companies and technologies.