Vice Chairman Kim Soyoung of the Financial Services Commission presided over the fourth insurance reform committee meeting with related authorities, research organizations, and industry groups on November 4. At the meeting, participants discussed ways to strengthen supervision over prudential management of insurance businesses with the implementation of IFRS17 from 2023. Speaking about the importance of ensuring accuracy and transparency in accounting practices, Vice Chairman Kim demonstrated strong commitment to root out unreasonable or arbitrary accounting practices in the insurance industry.