Financial Infrastructure Development

 

On Dec. 9, the Financial Services Commission (FSC) held the first Global Financial Cooperation Forum with emerging Asian countries in Seoul with the topic of financial infrastructure development for the joint growth of Asian financial markets. The invitees were the financial authorities and institutions of Thailand, Vietnam, Myanmar, Cambodia, Indonesia, Brunei, China, Iran, Mongolia, and Kazakhstan.

The keynote addresses were delivered by Asia Development Bank Vice President Wencai Zhang and IMF Asia-Pacific Director Lee Chang-yong. A discussion panel consisting of financial experts and representatives from international organizations handled topics such as payment and settlement systems and capital market infrastructure.

The forum participants are scheduled to visit the Korean financial institutions that they are interested in today, Dec. 10, to exchange opinions about the introduction of the Korean financial systems.

“I felt that many Asian countries are eager to develop their financial infrastructure while pondering upon how to do so specifically,” said FSC Chairman Shin Je-yoon, adding, “I am sure that private and public financial institutions in Korea can be their reliable partners of great help.”

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