Vice Minister Ki-jae Meets Citibank Vice Chairman to Discuss Value-Up and More

Kim Byung-hwan, First Vice Minister of the Ministry of Economy and Finance, spoke about recent price trends at the Emergency Economic Vice Ministers' Meeting and Price-Related Vice Ministers' Meeting held on the 26th at the Government Seoul Office in Jongno-gu, Seoul. Photo by Jo Yong-jun jun21@

The Ministry of Economy and Finance announced that First Vice Minister Kim Byung-hwan met with Jay Collins, Vice Chairman of Citibank, at the Government Seoul Office on the 9th to discuss South Korea's corporate value-up program and foreign exchange market structural improvement measures.

At the meeting, Vice Minister Kim said, "Amid the continued favorable recovery trend of the Korean economy, we will not be complacent and will announce a Dynamic Economy Roadmap in the first half of the year to secure sustainable growth engines."

He also added that efforts will be made to advance South Korea's foreign exchange and capital markets by steadily implementing foreign exchange market structural improvements and the corporate value-up program.

Vice Minister Kim requested that Citibank (London and Singapore) promptly complete the RFI registration process in line with the foreign exchange market structural improvements scheduled to be fully implemented in July.

In response, Vice Chairman Collins said, "We hope that South Korea's economic growth rate, which was stronger than expected in the first quarter, will continue in the future," and added, "If the foreign exchange market structural improvements and corporate value-up program are fully implemented, it will help advance South Korea's foreign exchange and capital markets to the next level."

Headquartered in the United States, Citibank is the world's 7th largest bank with assets totaling $2.4 trillion (approximately 3,323 trillion KRW).