Financial Services Commission Chairman Visits Japan... Agreement to Strengthen Cooperation Including Resumption of Shuttle Meetings

Kim Ju-hyun, Chairman of the Financial Services Commission, visited Japan and took steps to strengthen financial cooperation between the two countries, including holding a meeting with the Japanese Financial Services Agency Commissioner for the first time in eight years. The two countries plan to elevate their cooperation through the resumption of shuttle meetings between financial authorities and a startup fund jointly invested by Korean and Japanese financial sectors.

[Image source=Yonhap News]

According to the financial sector on the 4th, Chairman Kim visited Japan from the 2nd for a three-day, two-night trip. This visit to Japan was Chairman Kim's first overseas business trip and took place amid improving relations, including the restoration of shuttle diplomacy between the two heads of state.

During this visit, Chairman Kim held talks with Teruhisa Kurita, Commissioner of the Japanese Financial Services Agency, and they agreed to hold a two-day shuttle meeting in Seoul on December 19-20, which will then be held regularly. The resumption of shuttle meetings marks the first time in seven years since 2016.

Additionally, Chairman Kim attended the "Sustainability Forum" hosted by the Japanese Nikkei newspaper. This event, held as part of the "Japan weeks" program, was attended by Japanese Prime Minister Fumio Kishida, as well as global institutional investors and asset management officials.

In his opening remarks, Prime Minister Kishida mentioned various policies aimed at converting household assets (savings) into investments for economic growth. Chairman Kim stated that Japan's policies are heading in the right direction and expressed hope that "financial cooperation between the two countries will be strengthened in promising investment areas with high growth potential, such as promising companies and startups."

During his visit, Chairman Kim also attended the launch event of the Korea-Japan cooperative startup fund, the "Future Flow Fund." He emphasized, "This fund is a good example of Korea-Japan financial cooperation as it is the first Korea-Japan cooperative startup fund and a project voluntarily initiated by the private financial sector," adding, "I hope such projects will expand into more financial sectors such as banking, insurance, capital markets, and fintech in the future."

Furthermore, during his visit to Japan, Chairman Kim participated in a meeting with local financial companies attended by 14 financial firms, the signing ceremony of a "Green-Digital Transformation-related Memorandum of Understanding (MOU)" between the two countries' banking associations, and a joint seminar.

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