Korea Federation of Banks Hosts International Bankers Federation Board Meeting in Seoul

On October 28, the Korea Federation of Banks held the International Bankers Federation (IBFed) Board of Directors meeting at the Bankers Hall in Myeong-dong to enhance the international standing of the domestic banking industry and to engage in in-depth discussions on global financial issues.

The Korea Federation of Banks became a member of the International Bankers Federation, which includes major national banking associations as members, on January 1, 2010. This board meeting was attended by 25 representatives and senior officials from banking associations of 12 countries, including Anthony Osler, Chairman of IBFed (currently Chairman of the Canadian Bankers Association), as well as the United States, Europe (the United Kingdom, Germany, and the Netherlands), Japan, Australia, South Africa, China, and Korea. The agenda included discussions on international trends in financial consumer protection and financial fraud, as well as reports on the activities of IBFed's affiliated committees.

Headwidge Newen, Secretary General of the International Bankers Federation (fourth from the left in the front row), Cho Yongbyung, Chairman of the Korea Federation of Banks (fifth), and Anthony Osler, Chairman of the International Bankers Federation (sixth), along with other attendees, are posing for a commemorative photo. Korea Federation of Banks

The delegations from each country's banking association who attended the board meeting exchanged views with representatives from the Bank of Korea, the Financial Supervisory Service, the Korea Credit Information Services, and the Korea Institute of Finance on topics such as Korea's benchmark interest rate transition and the promotion of KOFR, domestic voice phishing cases and countermeasures, and the current status and development plans for domestic financial data infrastructure. In addition, they are scheduled to visit Toss Bank to share the operational achievements and future directions of Korea's internet-only banks.

Cho Yongbyung, Chairman of the Korea Federation of Banks, commented, "It was a valuable opportunity to invite delegations from major national banking associations and share important insights," adding, "The Korea Federation of Banks will continue to promote our banking industry on the international stage and work even harder to strengthen our voice on global financial issues."

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