Ladies and Gentlemen: In line with Vision 2030, we have transformed the financial sector into a dynamic and growth pulling sector. But the goals set by Vision 2030 have not yet been achieved, although we are confident to achieve them.
Global financial markets, meanwhile, have remained unsettled due to the U.S. subprime mortgage problem. The functioning of markets for securitized products has deteriorated significantly in the United States and Europe, and stock markets have continued to be unstable worldwide. Moreover, uncertainty regarding global economic developments, for example, downside risks to the U.S. economy, has been increasing.