Chairman Lee Eog-weon of the Financial Services Commission attended the third taskforce meeting on upgrading the credit rating system held with officials from credit rating agencies, related financial organizations, and industry groups on April 9. At the meeting, the FSC introduced a plan to launch an AI-based credit rating framework focused on the needs of small businesses and self-employed business owners. Speaking about the planned launch of the Small Business & Self-Ownership Credit Bureau (SCB), Chairman Lee underscored the importance of facilitating the supply of finance to small businesses that are equipped with future growth potential through a sweeping overhaul in the structure of financial flows. In this regard, Chairman Lee said that the SCB can serve as the starting point in making a transition toward a more data-driven and future-oriented model of finance.