Lee Bok-hyun, governor of the Financial Supervisory Service, speaks during a National Assembly audit in Seoul, Oct. 17. Yonhap
By Jun Ji-hye
Financial Supervisory Service (FSS) Gov. Lee Bok-hyun will visit Vietnam, Hong Kong and Indonesia this week to meet with top financial officials there and share insights on supervisory practices and cooperation.
The head of the country’s financial watchdog will also ask for attention and support for the entry of Korean financial institutions.
According to the FSS, Sunday, Lee will meet with high-level officials from the State Bank of Vietnam on Monday, from the Hong Kong Monetary Authority and the Securities and Futures Commission on Thursday and from the Indonesian Financial Services Authority on Friday.
On Wednesday, Lee will attend an overseas investor relations (IR) conference in Hong Kong.
The event, dubbed “Invest K-Finance: Hong Kong IR 2024,” is jointly organized by the FSS and the city governments of Seoul and Busan, as well as financial institutions.
Lee will outline efforts and objectives for the advancement of the country’s capital market and express a strong commitment to driving policy initiatives in his opening speech.
During the event, the FSS plans to analyze the reasons behind the undervaluation of the Korean stock market and provide a detailed explanation of policy initiatives that the government has been pursuing to address this issue.
The Korea Exchange will share the progress and future plans of the Corporate Value-up Program, launched in February to boost the value of local businesses and eliminate the so-called “Korea discount.”
The governments of Seoul and Busan will actively promote financial hubs in their cities, aiming to attract investors and encourage entry into the Korean market.
A delegation of representatives from four financial institutions — Hana Financial Group, Shinhan Financial Group, Korea Investment & Securities and Korean Reinsurance Company (Korean Re) — will also join the investor relations event in Hong Kong.
During his visits to Vietnam and Indonesia, the governor will hold meetings with local branch heads of Korean financial institutions.
He plans to listen to feedback on each country’s regulations and supervisory practices that may hinder the expansion of Korean businesses and explore ways to provide support.
