Chairman Lee Eog-weon of the Financial Services Commission presided over the inaugural meeting on transforming the financial industry and seeking a transition toward productive finance on September 19. Today’s meeting was joined by industry representatives from different regions and officials from different business sectors and sizes who shared their ideas and suggestions in collaborative efforts to seek growth in both the real economy and financial sectors. In his opening remarks, FSC Chairman Lee said that the Korean economy is currently standing at an inflection point where the role of finance is considered to be ever more critical in providing solutions to various problems, such as low growth and wealth gap, and rebooting growth in the economy. To seek a transition toward productive finance, Chairman Lee introduced plans to pursue transformation of the following three areas—policy finance, financial business, and capital markets.