The meeting at the Government Complex Seoul included Koo and the ministry’s international economic affairs chief. AMCHAM attendees included Jeffrey Jones, chairman of the Future of Korea Partnership Foundation, among others.
Kim said that as Singapore and Hong Kong strengthen their competitiveness as financial centers, South Korea also needs to bolster the competitiveness of its financial industry to further expand the foundation for attracting global investment. He said he hopes to work closely with the ministry to strengthen market competitiveness and improve the investment environment.
Kim also presented Koo with AMCHAM’s recently published report, “Strategy for Advancing Korea as a Financial Hub.” The report includes recommendations for South Korea’s bid to become a global financial hub, including creating a regulatory environment aligned with global standards and building a predictable supervisory system to help expand investment by global companies.
Koo said the report contains a range of policy recommendations to strengthen the competitiveness of South Korea’s financial industry and would be a useful reference. He said the government is continuing efforts to advance capital markets, improve the structure of the foreign exchange market and innovate financial regulation.
“The Korean government is making an all-out effort to position the capital market as a core platform for economic growth and to modernize it in line with global standards,” Koo said. He added that the government will steadily carry out tasks in the previously announced MSCI roadmap so South Korea’s capital market can be recognized with a fair “Korea premium.”
Koo said the government will closely consult with relevant agencies on views raised during the meeting and actively reflect needed items in future institutional improvements.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.