The FSC and the FSS held the first working group meeting of the taskforce on improving the operating practices of banks on March 2, chaired by FSC Vice Chairman Kim So-young. At the meeting, authorities shared the operating method of the working group and taskforce and discussed specific task items intended to promote competition in the banking sector and seek improvements in its industrial structure. In his opening remarks, Vice Chairman Kim emphasized the need to examine the tasks for promoting competition in the banking sector with an aim to boost workable competition in a substantive way and decide priorities accordingly.