During a press conference marking his second year in office, Lee Bok-hyun, the head of South Korea's Financial Supervisory Service, reiterated his dedication to addressing ongoing financial challenges, such as real estate project financing risks and reforming the short-selling system. He emphasized the need to expedite the digitization of finance for the remainder of his term and expressed his intention to envision a promising future for the financial sector. Lee's primary focus is on stabilizing uncertainties, particularly in real estate project finance loans, and he aims to reduce the concentration on specific assets from past real estate expansions. He anticipates that these efforts will dispel lingering concerns by the end of the year. Additionally, he emphasized his commitment to normalizing currently halted short selling trading and advancing the digital financial environment to adapt to critical changes like digitalization and demographic shifts. In a bid to boost investor confidence, Lee announced plans to computerize and reform the short selling system and implement stricter measures against financial fraud and unfair trading to establish a sound and fair financial order. Under his leadership, the FSS has conducted a comprehensive review of illegal short selling practices and initiated the computerization of a monitoring system for illegal acts, set to be established within the next six months. Lee also emphasized the need for international cooperation, particularly in the area of virtual asset regulation, highlighting a meeting with the US Securities and Exchange Commission to confirm mutual commitment for cooperation in financial fields, including virtual assets. He stressed the importance of reciprocal international cooperation, as many financial regulations regarding capital markets and virtual assets are cross-border and not based on obligations but rather on cooperation and favors.