Chairman Kim Joo-hyun of the Financial Services Commission held a meeting with related organizations and experts on April 3 and discussed ways to promote reverse mortgage as a way to tackle challenges of an aging society. In opening remarks, Chairman Kim said that it is necessary to find more innovative ways to guarantee income after retirement, especially when the elderly population in Korea is expected to surpass 10 million from next year and the proportion of old-age income poverty has been higher than in other major economies. In this regard, Chairman Kim said that the government has been working to promote the use of reverse mortgage as a key policy agenda by broadening the type of housing eligible under the program and increasing the maximum loan amount for beneficiaries.