Chairman Kim Byoung Hwan of the Financial Services Commission held a meeting with savings banks and discussed the importance of ensuring prudential management and improving accountability and credibility in the market on September 6. At the meeting, Chairman Kim talked about the need for savings banks to strictly implement the restructuring and liquidation plans for real estate development projects and prepare sufficient levels of loss reserves and capital, while actively seeking to boost their operating capacities and cope with digital transformation. Chairman Kim said that the FSC will actively seek measures to support savings banks to ensure market stability, and work with the industry to seek improvements in regulations where needed to ensure a successful repositioning of the savings banks sector amid various challenges facing the industry, such as demographic change in regions and digital transformation.