Chairman Kim Joo-hyun of the Financial Services Commission met with the CEOs of major commercial banks and held talks on ways to promote innovation and seek progress in the banking industry on April 1. In his opening remarks, Chairman Kim expressed appreciation for the banking sector’s contribution of KRW2.1 trillion in financial assistance programs for vulnerable sectors, and emphasized the need to continue to push for innovation in the banking sector through competition. In this regard, Chairman Kim said that the government will take bold steps to reform regulations on banks’ ancillary services.