[Asia Economy Reporter Kim Eun-byeol] A webinar discussing the direction of the amendment to the Bank of Korea Act, including the payment and settlement system and the issuance of central bank digital currency (CBDC), will be held on the afternoon of the 16th.
The office of Kim Ju-young, a member of the National Assembly's Planning and Finance Committee from the Democratic Party of Korea, announced that it will hold a webinar titled "Direction of the Amendment to the Bank of Korea Act to Enhance the Safety of the Payment and Settlement System (Focusing on Payment and Settlement and CBDC Discussions)" starting at 2 p.m. that day.
The seminar will be attended by legal experts, academics, and Bank of Korea officials. Professor Ko Dong-won of Sungkyunkwan University School of Law will present, and Professor Ahn Soo-hyun of Hankuk University of Foreign Studies College of Law and Law School will chair the session. The discussion panel includes Professor Kim Hong-beom of Gyeongsang National University Department of Economics, Professor Park Soo-yong of Sogang University Department of Computer Engineering, Professor Park Ki-young of Yonsei University Department of Economics, Lawyer Kang Hyun-gu of the law firm Kwangjang, and Min Jun-gyu, Director of the Bank of Korea's Legal and Regulatory Affairs Office.
Amid ongoing conflicts between the Bank of Korea and the Financial Services Commission over amendments to the Electronic Financial Transactions Act, Kim previously proposed an amendment to the Bank of Korea Act that includes the provision that "payment and settlement are the exclusive authority of the Bank of Korea." The amendment proposed by Kim strengthens Article 81 of the Bank of Korea Act related to payment and settlement, explicitly stating that payment and settlement operations are the exclusive authority of the Bank of Korea.
The webinar will be streamed on Kim's YouTube channel (http://www.youtube.com/c/김주영과함께해주영).
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