Chairman Lee Eogwon Meets with Head of Kazakh Financial Authority... Expanding Financial Cooperation

Financial Cooperation Discussed at Korea–Central Asia Summit
Sharing Policy Experience and Supporting Mutual Expansion of Financial Institutions

On the 16th, Financial Services Commission Chairman Lee Eogwon met with Madina Yerassilovna Abilkassymova, Chairperson of the Agency for Regulation and Development of the Financial Market of Kazakhstan, to discuss ways to strengthen financial cooperation between South Korea and Kazakhstan.

This meeting was arranged on the occasion of the first Korea-Central Asia Summit. Chairperson Abilkassymova proposed that, with the Korea-Kazakhstan Financial Cooperation Seminar taking place today, both countries should further expand their financial cooperation.

In response, Chairman Lee stated, "As economic and industrial cooperation between the two countries expands, financial cooperation to support the real economy becomes increasingly important. We will actively share Korea's policy experience and expertise, and will continue to work together to facilitate the mutual entry and growth of financial institutions from both countries."

The Korea-Kazakhstan Financial Cooperation Seminar held on this day was conducted under the theme of "A New Chapter of Financial Cooperation for Stability and Growth." More than 60 officials from financial authorities and related organizations of both countries participated and shared their experiences in financial policy and market development.

During the seminar, the Kazakh side introduced trends in financial regulation focused on the banking sector, as well as development strategies for the Astana International Financial Centre (AIFC). The Korean side shared its experiences in enhancing the resilience of the banking sector, stabilizing the financial system, resolving non-performing loans (NPLs), and building infrastructure for the capital market.

Both sides agreed to continue strengthening policy communication between the governments and related organizations and to further expand cooperation in the financial sector going forward.

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