Lee Eog-weon, left, chairman of the Financial Services Commission, responds to President Lee Jae Myung's question during the State Council and Emergency Economic Inspection Meeting at Cheong Wa Dae, Tuesday. Yonhap
The chief of the country's financial regulator said Wednesday that his agency will take bold steps to help the financial sector further develop innovative services.
In an event to promote fintech services, Lee Eog-weon, chairman of the Financial Services Commission (FSC), said his agency and related parties will provide their support for financial innovation and the fintech industry in selective, vital areas.
"Our support will be centered on artificial intelligence (AI), data and young entrepreneurs," Lee said, adding that unnecessary and outdated regulations will be drastically removed.
The FSC chief also said his agency will actively tackle changes taking place in the financial sector.
Source: Korea Times News
