ASEAN - RoK financial cooperation centre opens in Jakarta

Friday, 2022-04-15 16:46:31
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At the launch ceremony (Photo: ASEAN team)
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NDO/VNA – The Republic of Korea (RoK) has launched an ASEAN - RoK financial cooperation centre in Jakarta, which serves as a gateway for Korean financial firms to enter regional markets and vice-versa.

Ambassador of the RoK to ASEAN Kwon Hee-seog said the centre will provide advisory services on many issues including fintech, financial stability, financial infrastructure, and cryptocurrencies.

More than 30 Korean bankers are already operating in Jakarta and Indonesia, and they will engage in more operations and more investment in financial themes, he noted.

The centre will provide stepping stones for financial organisations of the RoK and ASEAN to exchange information on financial issues, he said, adding that it will work closely with the RoK’s embassies in Southeast Asia.

Satvinder Singh, Deputy Secretary-General for the ASEAN Economic Community, voiced his hope that the cooperation will help improve financial access and inclusive development of ASEAN and Korean enterprises.

He also emphasised the importance of partnership in resolving issues relevant to the initiatives on green and sustainable finance.

Data in 2020 from ASEAN Statistics showed that the RoK’s financial firms opened 153 branches in ASEAN countries, accounting for over one-third of their total branches worldwide. Among the regional countries, Vietnam and Indonesia recorded the most financial companies from the RoK, 54 and 32, respectively, as of September 2021.