FSC Chairman Kim Joo-hyun attended the 8th financial regulatory reform committee meeting held on July 17 and delivered opening remarks. At the meeting, the committee members discussed (a) measures to ease rules on domestic financial companies' ownership of subsidiaries in overseas markets, (b) ways to improve licensing standards on mergers of savings banks and (c) recent progress in the implementation of financial regulatory reform initiatives over the year. In his opening remarks, Chairman Kim said that the regulatory reform agendas sought by the government will help lay foundations for the financial industry's long-term growth as current financial market uncertainties lingering at home and abroad are expected to gradually improve in the future. In this regard, Chairman Kim said that the FSC is looking into various regulatory reform items to help strengthen the competitiveness of our financial industry and cultivate globally renowned financial companies.