The Financial Services Commission and the Ministry of Agriculture, Food and Rural Affairs signed a memorandum of understanding pledging to strengthen cooperation on promoting the development of pet insurance services. Against the backdrop of recent growth in demand for veterinary visits by pet owners, the government announced a plan to seek improvements to the country's pet insurance industry in October this year. As a follow-up to this plan, the authorities signed an MOU to facilitate closer collaboration between the insurance and veterinary industries. At the MOU signing event, FSC Chairman Kim Joo-hyun said that pet owners will have more eased access to pet health care services in the future.