Vice Chairman Kim So-young of the Financial Services Commission visited Indonesia on September 4-5 on his weeklong trip to Southeast Asian countries to boost financial cooperation and promote export of Korean financial infrastructure models.
Korea-Indonesia Financial Cooperation Forum
On September 4, Vice Chairman Kim attended the Korea-Indonesia Financial Cooperation Forum hosted by Indonesia’s Financial Services Authority (OJK) and Korea’s Council on International Financial Cooperation (CIFC). The forum dealt with issues on sustainable finance in both countries and ways to strengthen financial cooperation. In his congratulatory remarks, Vice Chairman Kim highlighted how both countries have been able to maintain close cooperative relationship with each other, and said that the Korean government will continue to make effort to support Korean financial companies to pursue mutually beneficial and sustainable business activities in Indonesia while sharing the experience and know-hows on financial innovation and digital transformation.
Meeting with Deputy Chairman of Indonesian Financial Services Authority (OJK)
In a meeting with Deputy Chairman Mirza Adityaswara of Indonesia’s Financial Services Authority, Vice Chairman Kim shared concerns about some of the local regulatory hurdles experienced by Korean financial companies operating their business in Indonesia. Vice Chairman Kim said that Korean financial companies are equipped with the experience and know-hows in successfully supporting the growth of the real economy and leading digital transformation of financial services. Therefore, Vice Chairman Kim said that, together with Indonesia’s high growth potential, they can achieve a significant synergy in Indonesian markets.
Export Finance Support Meeting with Hyundai Motor
Vice Chairman Kim visited Hyundai Motor’s factory in Indonesia and held talks on the recently announced export finance support for the suppliers and subcontractors in the auto industry. At the meeting, Vice Chairman Kim said that the government will continue to make efforts to help resolve the difficulties and financing burdens experienced by auto industry suppliers and subcontractors as part of the government’s broader aim to bolster financing support for export industries.
Visit to Korea-ASEAN Financial Cooperation Center
On September 5, Vice Chairman Kim visited the Korea-ASEAN Financial Cooperation Center established in Jakarta in April 2022. During his visit, Vice Chairman Kim said that the FSC is working to promote overseas expansion of domestic financial industry by making available various support programs for export of domestic financial infrastructure models and overseas market entry of domestic financial companies. To build foundations for more financial cooperation with ASEAN countries, Vice Chairman Kim talked about the importance of continuing to provide training and knowledge sharing programs to ASEAN countries and seek ways to make use of official development assistance (ODA) as a means to increase financial cooperation in the region.
* Please refer to the attached file for details.