We will now begin the presentation of the Group's 2025 business results. We will start with the holding company's slide three: 2025 business highlights. As of year-end 2025, consolidated total assets reached KRW 135.5 trillion, representing a 17.2% increase compared to the end of the previous year. Consolidated net income amounted to KRW 2.3501 trillion, up 0.7% year-over-year, and ROE stood at 22.7%. For 2025, EPS was KRW 12,903 and BPS was KRW 59,139, reflecting increases of 5.4% and 8.5%, respectively, compared to the prior year. Slide four, detailed financial performance consolidated net income for 2025 reached KRW 2.3501 trillion, marking a record-high annual performance. Fourth quarter net income was KRW 323.3 billion, down 7.6% year-over-year. Although insurance profit declined due to reduced experience variance gains following the end of the medical strike, fee and interest income increased on the back of proactive new deal origination, resulting in full-year net income exceeding to KRW 3 trillion. Slide five, standalone net income by key subsidiaries. On a standalone basis, Meritz Fire & Marine Insurance recorded KRW 1.6810 trillion, Meritz Securities recorded KRW 701.6 billion, and Meritz Capital recorded KRW 134.2 billion. Fire and Marine Insurance saw a 1.7% year-over-year decline in net income. Despite growth in long-term health sales and higher investment income, experience variance gains decreased following the normalization after the medical strike. Securities posted KRW 701.6 billion in net income, up 11.3% year-over-year, driven by improved corporate finance performance and stronger investment gains. Capital recorded KRW 134.2 billion in net income, up 14.6% year-over-year, as valuation gains and dividend income from investment assets more than offset weaker operating profit. Slide seven, capital efficiency as of year-end, ROE stood at 22.7% and the double leverage ratio was 126.8%. We continue to maintain industry-leading ROE and a stable double leverage ratio. In 2025, EPS was KRW 12,903 and BPS was KRW 59,139, demonstrating steady growth in per share value. Slide eight, real estate exposure and credit cost as of year-end 2025, the group's total real estate exposure amounted to KRW 30.0 trillion. Domestic exposure was KRW 25.6 trillion and overseas exposure was KRW 4.4 trillion. Of the total exposure, senior loans accounted for 89% and the average LTV was approximately 46%. We continue to manage the portfolio with a focus on high-quality assets. Net provisioning and reserve additions in 2025 totaled KRW 407.1 billion, an increase of approximately KRW 64.4 billion year-over-year. Excluding KRW 237.6 billion in Homeplus-related credit costs, annual net provisioning decreased. Impairment of beneficiary certificates amounted to KRW 262.6 billion in 2025, slightly lower year-over-year despite proactive recognition of impairments. Slide nine, 2025 execution of the corporate value enhancement plan total shareholder return for 2025 was 8.8%. Since the announcement of our shareholder return policy in 2023, cumulative TSR over the past three years has reached 173.6%. Including the KRW 200 billion trust contract announced on February 9th, treasury share buybacks totaled KRW 1.45 trillion, resulting in a 2025 shareholder return ratio of 61.7%. Given the deepening undervaluation of our shares, we allocated the entirety of shareholder return resources to treasury share buybacks and cancellation. As of the end of December 2025, Bloomberg consensus forward PER was 7.2x, implying a buyback yield of 13.9%, which remains above our required return threshold of 10%. In line with the principles previously disclosed, we will continue to pursue an active and disciplined shareholder return policy going forward. Slide 14, Meritz Fire & Marine Insurance for 2025. Standalone net income of Meritz Fire & Marine Insurance amounted to KRW 1.681 trillion, representing a 1.7% decrease year-over-year. Although insurance profit declined following the normalization after the medical strike, investment profit increased, supported by improved expense efficiency and higher equity valuation gains. Insurance profit for 2025 totaled KRW 1.4254 trillion, down 7.1% year-over-year. While experience variance gains declined significantly, large-scale reversals occurred as loss volumes from third and fourth generation indemnity medical contracts were substantially reduced. Investment profit reached KRW 862.3 billion, up 13.2% year-over-year. The increase was primarily driven by higher FVPL gains amid favorable financial market conditions, as well as reversals of credit loss provisions. Performance by business segment in the long-term health insurance market. The previously steep growth trend moderated following the announcement of the lapse ratio guidelines. Focusing on high-margin new business, the company recorded monthly average new business sales of KRW 10.8 billion, up 60% year-over-year. Beginning in 2025, we are achieving simultaneous growth in both sales and profitability. In auto insurance, underwriting losses continued due to higher loss ratios driven by abnormal weather conditions. In commercial insurance, although premium revenue increased, profit declined year-over-year as the loss ratio edged up due to an increase in small claim incidents. Slide 15, CSM movement and new business CSM multiple as of year-end 2025. The CSM balance stood at KRW 11.1037 trillion, down approximately KRW 84.2 billion compared to the prior year. Annual new business CSM amounted to KRW 1.5882 trillion, and interest accretion increased by KRW 361.5 billion. Meanwhile, CSM adjustment totaled negative KRW 866.6 billion. Annual CSM amortization amounted to KRW 1.1673 trillion. The 2025 CSM multiple was 12.1x, while the life insurance CSM multiple was 12.3x, representing improvements of 1.0x and 0.9x, respectively, compared to the previous year. Please refer to slides 17 and 18 for details on investment yield and the KICS ratio. The cumulative investment yield for 2025 was 3.7%, and the provisional KICS ratio stood at 237.4%. Next, let me move on to Meritz Securities. Please refer to slide 19. For 2025, consolidated net income amounted to KRW 766.3 billion, up 10.1% year-over-year. On a standalone basis, excluding the subsidiary Meritz Capital, net income totaled KRW 701.6 billion, representing an 11.3% increase year-over-year. Excluding dividend income from capital, standalone net income was KRW 583.7 billion, up 23.7% year-over-year. Despite a slow recovery in the real estate market and a challenging corporate environment, Meritz Securities improved its corporate finance performance by focusing on high-quality assets and proactively originating new deals. Stable performance in net interest income and asset management contributed to overall year-over-year earnings growth. Slide 20, revenue by business segment corporate finance profit for 2025 reached KRW 521 billion, marking a significant year-over-year improvement. Despite recognizing impairments on certain overseas assets and an increase in provisions, earnings growth was driven by the successful execution of high-quality new deals, repayments of existing deals, and increased income from those transactions. Net interest income remained solid despite higher funding costs, supported by stable loan interest income. Asset management performance improved through disciplined investment strategies and increased dividends from previously invested assets, even amid elevated interest rate volatility due to uncertainty surrounding the rate cut cycle. Commission income from brokerage declined slightly due to fee promotions. However, asset management income increased significantly, driven by growth in wrap account revenues and higher performance fees from fund management. Slide 24, risk management indicators on a consolidated basis. The net capital ratio rose to 1,470% through proactive capital management, including the issuance of capital securities. The non-performing loan ratio stood at 5.6%. The quarter-over-quarter increase in the NPL ratio was primarily attributable to a base effect from the inflow of new large-scale deals in the third quarter. On a sequential basis, the ratio continues to trend downward compared to the second quarter. Please refer to the presentation materials for Meritz Capital and other segment-specific indicators.