The Financial Services Commission noted on the 6th that Kim So-young, the Vice Chairperson of the Commission, visited Cambodia and the Philippines to support the overseas expansion of Korean finance.
Chairperson Kim facilitated the signing of two memoranda of understanding (MOU) between the Korea Asset Management Corporation (KAMCO) and Cambodian financial authorities. KAMCO signed an MOU promising to share non-performing loan resolution know-how with the Central Bank of Cambodia, while the Insurance Development Institute signed an MOU for cooperation in premium rate determination with the Cambodian Insurance Authority.
Following that, Vice Chairperson Kim, who visited the Philippines, met with Kanda Masato, the newly appointed president of the Asian Development Bank, to reaffirm the importance of strengthening financial cooperation in the Asian region. In addition, Vice Chairperson Kim also held a meeting with Chuchi Fonacier, the Deputy Governor of the Central Bank of the Philippines, exchanging views on the deposit protection limit policy promoted by both countries.