The FSC and the FSS held the 11th Korea-China-Japan high-level finance authorities meeting in Seoul on November 13. In his opening remarks, Vice Chairman Kim So-young stated that the three countries are currently facing the common problem of rapidly rising volatility in financial markets. At the same time, Vice Chairman Kim said that it is important for the three countries to seek financial innovation to respond to the trend of digitalization in financial services. Authorities from each country discussed key issues regarding financial policy or market situation in their country and shared a common understanding on the current global financial market situation and the need to maintain close cooperation between them.