Vice Chairman Kim Soyoung of the Financial Services Commission held a meeting with fintech businesses, venture investors, and related industry groups on April 9 and held talks on ways to promote investment and boost support for the fintech industry. In his opening remarks, Vice Chairman Kim said that a continuation of high interest rates and economic uncertainties has pushed down investments for startup businesses and the fintech industry around the world. To help improve the competitiveness of our financial industry, Vice Chairman Kim said that it is crucial to make policy efforts to revitalize the fintech industry and its investment ecosystem. In this regard, Vice Chairman Kim said that the government will (a) expand the operation of fintech innovation funds to continue to make investment in promising fintech businesses, (b) upgrade the financial regulatory sandbox program, and (c) support overseas expansion of fintech businesses and expand the supply of related policy funds. At the meeting, the FSC also unveild a plan to create a second batch of fintech innovation funds worth KRW500 billion for 2024-2027.