Vice Chairman Kwon Dae-young of the Financial Services Commission presided over the kickoff meeting of the newly established taskforce on improving the corporate governance structure of financial companies on January 16. The taskforce on corporate governance structure was set up to enhance the fairness and transparency in financial companies' corporate governance practices. Through active participation from various experts, the taskforce will have discussions on ways to increase the autonomy of corporate boards, improve the fairness and transparency in the CEO selection and appointment process, making improvements to bonus payments, etc. Based on the outcome of taskforce meetings, the FSC plans to draw up a comprehensive plan to improve corporate governance practices of financial companies in the first quarter of this year.