Financial Authorities of Korea, China, and Japan Discuss COVID-19 Financial Policy Responses

[Asia Economy Reporter Kim Jin-ho] The high-level meeting of financial authorities from Korea, Japan, and China resumed after more than two years. The meeting discussed financial policies amid the COVID-19 situation.

The Financial Services Commission announced on the 16th that it held the "10th Korea-China-Japan High-Level Meeting of Financial Authorities" online together with Japan's Financial Services Agency and China's China Banking and Insurance Regulatory Commission.

The Korea-China-Japan High-Level Meeting of Financial Authorities has been held alternately by the three countries since its first meeting in 2008. It was not held last year due to the impact of COVID-19, but this year it was conducted via video conference online.

At the meeting, the three countries discussed major issues such as financial policies in response to COVID-19 and prevention of financial crises. Korea shared evaluations of COVID-19 response financial policies and future operational plans, China shared achievements in financial crisis prevention and restructuring, and Japan shared the Financial Services Agency's priority tasks.

A Financial Services Commission official explained, "Amid ongoing uncertainties caused by COVID-19, we agreed on the need for close cooperation among Korea, China, and Japan to respond to regional financial instability."

Meanwhile, next year's Korea-China-Japan high-level meeting will be hosted by Korea's Financial Services Commission and the Financial Supervisory Service. The timing and location of the event will be finalized after further consultations.

This content was produced with the assistance of AI translation services.