Vice Chairman Kim Soyoung of the Financial Services Commission attended the 5th benchmark rate and short-term financial market consultation meeting with related organizations, such as the Bank of Korea, the Financial Supervisory Service, the Korea Securities Depository, and the Korea Exchange, as well as academics and market experts, and discussed plans for promoting benchmark rate reform in 2025. At the meeting, Vice Chairman Kim said that the efforts of the government, the Bank of Korea, and other related organizations, as well as the active participation of the financial sector, have put the benchmark rate reform on track and that they have been working together with market participants to create a common plan that everyone can agree on. Speaking about the importance of ensuring global consistency by joining the trend of international benchmark rates reform, Vice Chairman Kim said that this reforming benchmark rates will be an opportunity to enhance the safety of the Korean financial system.