Financial Supervisory Service Holds Supervisory Council with Overseas Financial Regulators

The Financial Supervisory Service announced on November 19 that it had held a supervisory council by inviting financial regulators from major countries where KB Kookmin Bank's overseas branches are located.

Since 2011, the Financial Supervisory Service has been organizing supervisory councils with the participation of overseas financial regulators to strengthen information exchange and cooperation with local supervisory authorities in regions where domestic banks have expanded.

This year's council is the first in eight years since 2017 and the first time it has been held for KB Kookmin Bank. The event, held at the Financial Supervisory Service in Yeouido, Seoul, was attended by nine financial regulators from five supervisory agencies across four Asian countries.

The Financial Supervisory Service introduced the current state of the Korean banking industry and banking regulations, key issues in recent Korean financial supervision, and matters related to the supervision and inspection of KB Kookmin Bank. Overseas regulators presented the main regulatory landscape and policy directions in their respective countries, as well as the business status and key issues of Korean banks operating locally, and exchanged opinions.

A representative from the Financial Supervisory Service emphasized, "We will continue to do our utmost to strengthen international cooperation with overseas supervisory authorities and support the overseas expansion of domestic financial groups."

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