South Korea and Vietnam are set to strengthen their cooperation in the capital markets, taking the stabilization of Vietnam's next-generation securities market system as an opportunity.
The Financial Services Commission announced on the 25th that Vice Chairman Daeyoung Kwon met with Duc Chi Nguyen, Vice Minister of Finance of Vietnam, at the Government Seoul Office to discuss follow-up measures to the Korea-Vietnam summit held on August 11.
The meeting was also attended by the Chairman of the State Securities Commission (SSC) of Vietnam, as well as representatives from the Vietnam Exchange, Ho Chi Minh Stock Exchange, Hanoi Stock Exchange (VNX, HOSE, HNX), and the Vietnam Securities Depository and Clearing Corporation (VSDC).
Vice Minister Chi expressed his gratitude, noting that the next-generation system for the Vietnamese securities market, supported by the Korea Exchange, has been operating stably since its official launch on May 5. He added, "We will strengthen policy support so that the Vietnamese stock market can enhance trading stability and global competitiveness, and emerge as a trusted emerging market."
Daeyoung Kwon, Vice Chairman of the Financial Services Commission (right), discussed capital market cooperation with Duc Chi Nguyen, Vice Minister of Finance of Vietnam, on the morning of the 25th at the Government Seoul Office in Jongno-gu, Seoul. Financial Services Commission
Chairman Phuong of the State Securities Commission also proposed expanding cooperation through ongoing sharing of policy experience and knowledge with South Korea, particularly in areas such as capital market supervision using the next-generation system and establishing regulatory frameworks for virtual assets.
Vice Chairman Kwon congratulated Vietnam on the successful launch of the next-generation system at the ceremony marking the 25th anniversary of the Vietnamese stock market, held on July 28. He also noted that this year has seen the establishment of several new milestones in bilateral cooperation in both the banking and capital market sectors.
In fact, the State Bank of Vietnam issued certificates of application acceptance for the establishment of Industrial Bank of Korea's Vietnam subsidiary and Korea Development Bank's Hanoi branch in May, the first such approvals in approximately six to eight years.
Vice Chairman Kwon and Vice Minister Chi agreed to advance cooperation in the insurance and fintech sectors, both of which have significant growth potential. They also emphasized their hope that revitalizing financial cooperation across all sectors-including banking, capital markets, insurance, and fintech-will yield mutual economic growth for both South Korea and Vietnam.
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