Financial Supervisory Service and World Bank to Jointly Host Financial Supervisory Partnership Program

The Financial Supervisory Service announced that it will host the Financial Supervisory Partnership Program (FSPP) from November 18 to November 21, under the theme of "The Future of Financial Supervision and Consumer Protection in the Digital Era."

The FSPP is a customized training program that invites staff from supervisory authorities in emerging countries, where there is a high demand for Korean financial companies to enter the market and a strong need for mutual cooperation. It has been held since 2015. This year, reflecting both the 10th anniversary of the FSPP and the surge in participation demand from emerging countries, the program was jointly planned with the World Bank.

During the program, the Financial Supervisory Service will share strategies to strengthen financial supervision and consumer protection in the digital era, including the digitalization of finance and the adoption and utilization of artificial intelligence (AI). Panelists from the German central bank, Japan's Financial Services Agency, and the World Bank will hold panel discussions on topics such as Suptech and the use of AI, while participants from financial supervisory authorities in 11 countries will also present their own national cases.

Major market participants such as KB Kookmin Bank, Toss Insight, and NICE Credit Rating will introduce the current status of the Korean financial market, focusing on response strategies and case studies in the digital and AI era.

A representative from the Financial Supervisory Service stated, "Through this program, we will share our efforts and experiences in digital transformation of financial supervision and strengthening consumer protection to enhance Korea's international standing," adding, "We expect this to further solidify our partnership with major emerging countries and supervisory cooperation partners."

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