Vice Chairman Kim Soyoung of the Financial Services Commission presided over an event celebrating the launch of a financial taskforce on effectively dealing with future challenges on April 2 along with industry associations, thinktanks, and related organizations. The financial taskforce on future challenges will tackle issues related to climate change, demographic shift, digital transformation, and so on, with a focus on the future role of financial sectors. In his opening remarks, Vice Chairman Kim said that new challenges consist of the known unknowns, which demand rigorous analysis and measured responses from both the public and private sectors. The financial taskforce on future challenges will be organized into three subgroups (demographic, climate, and technology groups) to more closely study issues in each area, and hold a joint seminar in the second half of this year.