Meeting with Indonesian Ambassador, Lee Bok-hyun: "Active Support for Korean Finance's Entry into Indonesia"

Strengthening Support for Rapid Visa Issuance and More

[Asia Economy Reporter Minwoo Lee] Lee Bok-hyun, Governor of the Financial Supervisory Service (FSS), met with the Indonesian Ambassador to Korea to request support for domestic financial companies' local expansion and to strengthen financial cooperation between the two countries.

On the 7th, the FSS announced that Governor Lee held a meeting with Gandhi Sulistiyanto, the Indonesian Ambassador to Korea, on the 3rd to discuss these measures.

At the meeting, Governor Lee requested the embassy's support for the swift issuance of visas for employees of financial companies and for the expansion of domestic financial firms into Indonesia. He also expressed the intention to actively support the entry of foreign financial companies, including those from Indonesia, into the domestic market through faster and more transparent licensing procedures. This is part of the FSS's agenda announced recently regarding support for domestic financial companies' overseas expansion this year.

In response to this request, the Indonesian Ambassador to Korea welcomed the entry of domestic financial companies and fintech firms into Indonesia and pledged active support for those already operating there. Additionally, a wide range of topics were discussed, including the current status and supervisory issues of the financial industries in both countries, such as virtual assets, mutual finance, P2P, and bancassurance.

This is not the first time the FSS has taken such steps with the Indonesian Embassy. On the 17th of last month, the FSS jointly held a "Briefing Session on Support for Financial Companies and Fintech Firms Entering Indonesia" with the Indonesian Embassy. About 150 participants, including financial companies, fintech firms, and related organizations that have entered or are interested in entering Indonesia, attended the event.

An FSS official stated, "We plan to further strengthen efforts to support domestic financial companies' overseas expansion by expanding exchanges with economic (financial) officers of foreign diplomatic missions in Korea."

Lee Bok-hyun, Governor of the Financial Supervisory Service, and Gandhi Sulistiyanto, Ambassador of Indonesia to Korea, are taking a commemorative photo after a meeting on the 3rd. (Photo by Financial Supervisory Service)