FSC Vice Chairman Promotes Capital Market Reform and Bilateral Cooperation in London

Press Releases

FaceBook

Twitter

NaverBlog

KakaoStory

Copy URL

Vice Chairman Visits London to Promote Capital Market Reform Programs and Strengthen Bilateral Cooperation Jul 22, 2024

Vice Chairman Kim Soyoung of the Financial Services Commission visited London, the United Kingdom (UK) from July 16 to 19 in an effort to promote Korea’s capital market reform and corporate value-up programs to global investors and to strengthen financial cooperation between Korea and the UK.

IR with Global Investors

On July 17, Vice Chairman Kim held an investor relations event for global investors and provided key information about the progress of Korea’s capital market reform initiatives aimed at boosting market accessibility, guaranteeing fairness and transparency in market transactions, and enhancing shareholder values. In this regard, Vice Chairman Kim provided detailed information about the opening up of the foreign exchange (FX) market, plans to introduce an alternative trading system (ATS), short sale reform measures, and the corporate value-up program.

UK-Korea Financial Forum

On July 17, Vice Chairman Kim also attended the UK-Korea Financial Forum and delivered a congratulatory speech. In his remarks, Vice Chairman Kim talked about the importance of maintaining strong cooperation with the UK to effectively respond to various challenges and opportunities presented by shifting global market environment, such as technological advance and climate change.

Meeting with Lord Mayor of the City of London

On July 18, Vice Chairman Kim held a meeting with Lord Mayor Michael Mainelli of the City of London and exchanged views on key issues surrounding major elections around the world this year and policies to promote global financial hubs in both countries. At the meeting, Vice Chairman Kim took time to explain Korea’s key financial policies, such as open banking, establishing a loan transfer infrastructure to facilitate refinancing of personal loans at lower interest rates, introducing financial MyData service, adopting guidelines on ESG disclosure, and so on.

Meeting with FTSE Russell

Following the meeting with the Lord Mayor of the City of London, Vice Chairman Kim visited the headquarter office of FTSE Russell in London where he met with officials there to introduce and explain key capital market reform measures of Korea. During the meeting, Vice Chairman Kim presented information about the short sale ban and short sale reform plans, the corporate value-up program, and the government’s efforts to actively engage and communicate with global investors.

Meeting with Korean Financial Companies Operating in UK

On July 18, Vice Chairman Kim also met with officials from five Korean financial companies doing business in the UK and held talks on the local financial industry and market situation, business operating conditions, and the challenges they face and suggestions for improvement. At the meeting, Vice Chairman Kim said that the government will continue to actively support overseas expansion of domestic financial companies to ensure continuous growth of our financial industry.

Further Plan

Vice Chairman Kim’s trip to London marks the government’s efforts to effectively communicate Korea’s capital market reform measures with global investors and to bolster bilateral relations with the UK in financial sectors.

The FSC plans to continue to make efforts to actively promote overseas expansion of our financial industry and boost inbound foreign investments.

• Please refer to the attached PDF for details.

PREV

The Act on the Protection of Virtual Asset Users to Take Effect from July 19

NEXT

2024 Korea Fintech Week to Kick Off on August 27

List

Related Materials

Sep 08, 2023

FSC Vice Chairman Visits Vietnam to Strengthen Cooperation on Digital Finance

Sep 06, 2023

FSC Vice Chairman Visits Indonesia to Bolster Export Financing Support and Strengthen Financial Cooperation

May 22, 2023

FSC Vice Chairman Visits Kyrgyzstan to Promote Cooperation in Financial Infrastructure Development