FSS Hosts Seminar Inviting Indonesia's Financial Services Authority

The Financial Supervisory Service (Financial Hub Support Center) announced on May 18, 2025, that it had invited Indonesia's Financial Services Authority (OJK) to hold a seminar on local financial conglomerate regulations.

This seminar was organized to enhance the understanding of recently introduced Indonesian financial conglomerate regulations among Korean financial companies operating locally. In addition to the Financial Supervisory Service and Indonesian supervisory authorities, more than 50 participants attended, including representatives from domestic financial industry associations and global business managers from 29 financial companies.

Indonesia possesses significant growth potential due to its abundant natural resources and a domestic market based on the world's fourth-largest population (280 million people). As a result, local investment and trade volumes by Korean companies are rapidly increasing. In the financial sector as well, Korean financial companies are highly active, with 30 financial companies (34 branches) operating in the country.

Recently, Indonesian supervisory authorities introduced a new regulatory framework for the supervision of financial conglomerates, which will also apply to Korean financial companies operating locally. In response, the Financial Supervisory Service and Indonesia's OJK, building on the close mutual cooperation established between the two agencies, agreed to hold a seminar to resolve uncertainties for Korean financial companies arising from the introduction of the new regulations and to support smooth regulatory compliance.

Kim Byungchul, Deputy Governor of the Financial Supervisory Service, stated, "We expect this seminar to serve as an opportunity for Korean financial companies to better understand and comply with local laws and systems," and added, "The Financial Supervisory Service will continue to actively support Korean financial companies so that they can grow soundly in overseas markets."

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