Korea-Japan Financial Supervisory Meeting Held; International Financial Cooperation Forum Also Takes Place

High-Level Talks Mark 60th Anniversary of Diplomatic Normalization
Joint Forum Session on Regulation in the Digital Era

The Financial Services Commission and the Financial Supervisory Service announced that they held the 9th Korea-Japan Financial Supervisory Regular Meeting with Japan’s Financial Services Agency in Busan on December 8. During this meeting, high-level talks were held between the heads of the Financial Services Commission and the Financial Services Agency, as well as the Financial Supervisory Service and the Financial Services Agency. They exchanged views on the impact of global economic and financial trends on the financial sectors of Korea and Japan. As both countries saw the inauguration of new governments this year, they also shared the basic policy directions and priorities for major policy tasks.

Lee Eogwon, Chairman of the Financial Services Commission, proposed that the two countries pursue swift and effective policy coordination to maintain regional financial system stability when necessary. He also suggested that communication between the financial regulatory and supervisory authorities of both countries be further strengthened to expand financial cooperation on common issues such as capital market development, digital transformation, and responses to aging populations.

Lee Chanjin, Governor of the Financial Supervisory Service, shared updates on improvements in the capital markets of both countries, including corporate governance reform and strengthening fiduciary duties of institutional investors. He also discussed responses to new financial supervisory challenges, such as protecting financial consumers amid advances in digital finance.

Yutaka Ito, Commissioner of the Financial Services Agency of Japan, expressed hope that Korea and Japan would use the era of digital transformation as an opportunity for joint growth by expanding mutual exchanges across both public and private sectors. Commissioner Ito agreed on the need to strengthen financial policy support and cooperation for future-oriented, private sector-led initiatives, and stated his intention to further develop close cooperation with the Financial Services Commission and the Financial Supervisory Service.

Meanwhile, the 10th International Financial Cooperation Forum was also held in Busan on the same day under the theme “Frontier Finance: Reshaping Digital Transactions and Intelligence.”

The International Financial Cooperation Forum is organized by the Overseas Financial Cooperation Council and sponsored by the Financial Services Commission. The event featured a variety of programs, including a joint session of the Financial Services Commission, the Financial Supervisory Service, and Japan’s Financial Services Agency, as well as sessions on productive finance and financial hub policies with participation from Busan Metropolitan City.

Following the opening address by Lee Hangyong, Chairman of the Overseas Financial Cooperation Council, congratulatory remarks were delivered by Lee Eogwon, Chairman of the Financial Services Commission, Yutaka Ito, Commissioner of Japan’s Financial Services Agency, and Lee Chanjin, Governor of the Financial Supervisory Service. The forum was attended by more than 200 participants, including about 70 officials from foreign financial authorities and related organizations-such as Hasan Fauzi, Commissioner of Indonesia’s Financial Services Authority (OJK)-and about 130 member companies of the Overseas Financial Cooperation Council. Notably, for the first time in the forum’s history, domestic and foreign financial authorities jointly planned and directly participated as presenters in the joint session, receiving an enthusiastic response from the attendees.

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