Ministry of Economy and Finance to Hold 'New Foreign Exchange Act Legislation Direction Seminar' on the 5th of Next Month

The Ministry of Economy and Finance announced on the 29th that it will hold a 'Seminar on the Direction of Enacting the New Foreign Exchange Act' at 2:30 PM on the 5th of next month at the Export-Import Bank in Yeongdeungpo-gu, Seoul.

This seminar was organized to discuss the necessity of a comprehensive overhaul of the current foreign exchange transaction laws and the direction of such reforms with academia, research institutions, and market participants.

The seminar consists of two sessions. In the first session, Kang Dong-su, Senior Research Fellow at the Korea Development Institute (KDI), and Lee Seung-ho, Senior Research Fellow at the Capital Market Institute, will present on the current status of foreign exchange transaction laws and the need for reform in response to changes in the economic and financial environment.

Additionally, Kang Sam-mo, President of the International Finance Association and Professor at Dongguk University, Professor Sung Tae-yoon of Yonsei University, Park Hae-sik, Senior Research Fellow at the Korea Institute of Finance, and Kim Eung-chul, Vice President of Woori Bank, will discuss the current foreign exchange transaction system and its issues.

In the second session, Kim Sung-wook, Director of the International Finance Bureau at the Ministry of Economy and Finance, will present the direction for enacting the new Foreign Exchange Act, followed by Professor Jeong Soon-seop of Seoul National University, who will present on measures to enhance legal consistency.

Professor Shin Kwan-ho of Korea University, Lawyer Lee Geum-ho of Kim & Chang, Kim Hyo-sang, Head of the International Finance Team at the Korea Institute for International Economic Policy, and Lee Jae-hyun, Head of the Future Asset Headquarters, will discuss the basic direction of legal reform.