FSC Chairman Kim Joo-hyun held a meeting with the FSS and financial industry groups on June 22 and discussed a plan to strengthen internal control of financial companies. The key reform measure being proposed requires CEOs of financial companies to prepare a responsibilities map demonstrating how internal control responsibilities are shared and divided among executive officers within their companies. In this regard, FSC Chairman said that the most important element in this reform initiative is not a change in formality but a change in the overall organizational awareness and value that will help bring about actual change in actions. As such, Chairman Kim said that the willingness and leadership of financial companies' top management are very important to ensure effective operation of internal control system.