FSC Chairman Kim Joo-hyun held a press conference on July 7 to talk about some of the important policy achievements in the past year and lay out plans for the future. Over the past year, Chairman Kim said that the government's preemptive and bold responses to the various risk situations including the real estate project finance market risks have helped to put domestic financial market back on a recovery track. Apart from the market stabilization measures put in place, the government has also made efforts in laying foundations to promote innovation in the financial industry. In this regard, Chairman Kim said that the government has prepared policy tools to (a) promote convergence of finance and non-finance sectors, (b) improve conditions to bring more competition to the banking sector, (c) enhance the competitiveness of financial holding companies and promote overseas expansion of domestic financial businesses. Going forward, Chairman Kim pledged that the financial authorities will continue to work on ensuring financial market stability, bolstering inclusive finance, promoting financial industry innovation, supporting innovative growth of the economy, overhauling financial regulations fit for the era of tech advancement and stamping out unfair trading activities.