The FSC held the third meeting of the taskforce on promoting ESG finance on October 16. Set up in February this year, the taskforce on ESG finance consists of representatives from businesses, investors, academia, experts and relevant institutions, and is aimed at exploring various policy tasks on the issues encompassing ESG disclosure, assessment and investment. At today’s taskforce meeting, the authorities discussed the roadmap for introducing an ESG disclosure system in domestic market. FSC Vice Chairman Kim So-young delivered opening remarks where he spoke about the significance of and underlying principle behind introducing an ESG disclosure system in Korea. As domestic firms are directly and indirectly affected by global value chains, Vice Chairman Kim said that it is necessary to lay a regulatory foundation to help them adjust to the strengthening of relevant regulations in major overseas markets. Vice Chairman Kim said that introducing an ESG disclosure system will also encourage domestic firms to seek more technological innovation in line with the shifting global paradigm toward digital transformation and low carbon society.