Chairman Lee Eog-weon of the Financial Services Commission held a meeting with the CEOs of five major financial holding companies on June 10 and discussed ways to effectively respond to cybersecurity threats and voice phishing (vishing) attacks in an era of AI transformation (AX). At the meeting, Chairman Lee and the heads of financial holding companies discussed the risk of cybersecurity threats posed by frontier AI and deepfake vishing scams and ways to effectively respond to these newly emerging digital threats to help propel AI transformation in the financial industry. In his opening remarks, Chairman Lee outlined some of the key policy measures introduced by the government to ramp up financial companies' cyber defense capacity against AI threats, including the easing of the network separation rule, and urged financial holding companies to take bold steps to set successful precedents in pursuing AI transformation. In addition, Chairman Lee said that financial holding companies should make active efforts and continuous investments to make sure that their own subsidiary companies are all equipped with an adequate level of AI cybersecurity capacity.