Korea Securities Depository (KSD) discussed cooperation plans with Citibank to enhance the stability of foreign-currency securities investment support services.
The depository said on the 26th that on the 25th at its Busan headquarters it discussed key pending issues related to foreign-currency securities operations with officials from Citibank N.A., a global market custodian.
On the day, Kwon Uijin, head of the global division at the depository, met David Brown and Tom Raiden, co-heads of financial institutions sales for Japan, North Asia and Australia at Citibank.
The two institutions discussed ways to enhance the stability of foreign-currency securities custody and settlement services as domestic investors expand overseas stock investments. In particular, they agreed to cooperate to provide stable services by proactively responding to environmental changes such as Citibank's integration of internal operating systems and the shortening of settlement cycles in global markets.
The depository also conveyed its appreciation for Citibank's support for domestic investors' foreign-currency securities investments thus far. The two institutions also agreed to continue cooperation to elevate Busan's status as an international financial center.
A depository official said, "We will continue to cooperate with Citibank to provide safe and convenient foreign-currency securities investment support and global financial services."