Meeting with Deputy Governor of Vietnam Central Bank to Make a Request
Kim So-young, Vice Chairman of the Financial Services Commission, met with officials from the State Bank of Vietnam to request cooperation regarding the local expansion of domestic financial companies.
According to the Financial Services Commission on the 30th, Vice Chairman Kim held a meeting with the Vietnamese central bank delegation, including Deputy Governor Nguyen Kim Anh, at the Government Complex Seoul in Jongno-gu, Seoul, and made these remarks.
The Vietnamese attendees at the meeting included the Deputy Director of the Bank Supervision Department of the central bank, the Deputy Director of the Legal Department, members of the National Assembly (Vice Chairmen of the Legislative Committee and the Economic Committee), and the Vice President of the Asset Management Corporation. They visited Korea to conduct overseas case studies for the amendment of the Credit Institutions Act.
Vice Chairman Kim stated, "Vietnam is Korea's third-largest trading partner and the country where Korean financial companies have expanded the most after China. We hope that financial cooperation between the two countries will further expand and strengthen," adding, "Korean banks operating locally have received favorable evaluations due to localization and effective risk management, so please cooperate to expedite the approval process for some domestic banks seeking local expansion."
Additionally, Vice Chairman Kim emphasized the excellence of Korea's credit information infrastructure and urged interest in the entry of domestic credit information companies into Vietnam.
Meanwhile, during the working-level meeting following the high-level talks, both sides agreed to continue cooperation by sharing Korea's financial industry development experience accumulated through overcoming the foreign exchange crisis, the global financial crisis, and other challenges, including the resolution of insolvent financial institutions and the development process of the banking system.
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