Chairman Kim Joo-hyun of the Financial Services Commission attended a memorandum of understanding signing event with the Ministry of Science and ICT, the Financial Supervisory Service, and related industry groups on April 5 and pledged to strengthen cooperation in a joint effort to combat vishing and other types of financial scams. With this MOU in place, there will be an enhanced level of collaboration between the financial and telecom authorities in seeking regulatory reforms and sharing information to more effectively combat vishing and other types of newly emerging financial frauds. The authorities plan to set up a joint working group to facilitate cooperation and work on detailed implementation measures.