Vice Chairman Kwon Dae-young of the Financial Services Commission presided over the first consultative body meeting on promoting productive finance joined by officials from policy financial institutions and private financial companies on January 21. In his opening remarks, Vice Chairman Kwon stressed the importance of seeking a paradigm shift in the financial industry to propel a great takeoff and revitalization of the Korean economy. In this regard, Vice Chairman Kwon said that the financial sector should make transitions away from their traditional business models to supply more funds and investments to high-tech industries and innovative startups and venture businesses, capital markets, and regional economies. To make this happen, Vice Chairman Kwon underscored the importance of maintaining mutual understanding between the financial and non-financial enterprises, so that financial companies can make accurate assessments about the technological prowess and future value of enterprises as their investment targets. Meanwhile, Vice Chairman Kwon vowed to maintain close communication with the financial sector in every step of the way.