FSC Chairman Visits Japan with Aims to Strengthen Bilateral Cooperation in Financial SectorsOct 04, 2023

Chairman Kim Joo-hyun of the Financial Services Commission visited Japan from October 2 to 4 in a move to strengthen bilateral cooperation in financial sectors. On his trip, Chairman Kim held a meeting with his Japanese counterpart at the Financial Services Agency (FSA) and agreed to resume the shuttle meeting between the financial authorities of two countries. Chairman Kim also took part in the Nikkei Sustainable Forum to deliver a speech and attended the first ever Korea-Japan collaboration startup fund launching event and held talks with Korean financial companies doing business in Japan.


Meeting with Korean financial companies operating in Japan


While meeting with the Korean banks, insurance companies and financial investment businesses operating in Japan, Chairman Kim held talks on the financial industry and market situation in Japan, business operation of each company and their challenges and suggestions. Emphasizing on the need to have active cooperation from the private sector, Chairman Kim said that bilateral cooperation between Korea and Japan is expanding beyond the traditional security and diplomatic domains into other areas. By maintaining close communication with the FSA of Japan, Chairman Kim said that the FSC will work to resolve business challenges experienced by Korean financial companies doing business in Japan and actively support cooperation between financial companies of two countries.


Nikkei Sustainable Forum


Attending the Nikkei Sustainable Forum, which was held as part of the Japanese government’s Japan Weeks event, Chairman Kim delivered closing remarks where he talked about the importance of strengthening financial cooperation between the two countries in the areas of startup and venture businesses where they have high growth potentials.


Korea-Japan banking industry MOU and joint seminar


Chairman Kim attended the Korea-Japan banking industry groups’ MOU signing event and joint seminar on green and digital transformation and delivered congratulatory remarks. As the financial industry faces new challenges in sustainable finance and digital finance, Chairman Kim said that he hopes to see stronger cooperation and collaboration between financial companies of Korea and Japan.


Korea-Japan collaboration startup fund launching event


Chairman Kim also attended a joint startup fund (“Future Flow Fund”) launching event invested by private sector financial companies of Korea and Japan. As it is the first ever joint startup fund being introduced through collaboration between the private sector businesses of Korea and Japan, and since it is the private financial companies that first took the initiative for this project, Chairman Kim said that this is a great example of financial cooperation taking place between the two countries, while adding that he hopes to see more collaboration projects like this in other financial sectors.

* Please refer to the attached file for details.