Lee Chan-jin, the head of the Financial Supervisory Service, participated in an international conference attended by financial supervisors and central bank governors from the East Asia and Pacific region, where discussions focused on the adoption of artificial intelligence (AI) in the financial sector and strategies to address global supply chain risks. He also discussed ways to enhance cooperation in the financial industry with Indonesia's Financial Services Authority (OJK).
According to the Financial Supervisory Service, Lee attended the 15th East Asia and Pacific Financial Supervisors and Central Bank Governors Meeting (EMEAP GHOS) held in Singapore on July 23-24.
EMEAP is a cooperative body established in 1991 for financial supervisory agencies and central banks from 11 countries in the East Asia and Pacific region to facilitate mutual cooperation and information exchange. The meeting was hosted by the Monetary Authority of Singapore (MAS).
Participants discussed key issues related to the supervisory and management challenges posed by the expanded adoption of AI in the financial sector, as well as the risks to supply chains arising from recent global environmental changes and potential responses.
During the meeting, Lee also held a separate bilateral meeting with OJK Chairperson, Friderika Widiya Sari Dewi. The two sides exchanged views on expanding exchanges and cooperation between the financial industries of South Korea and Indonesia, emphasizing the need to strengthen collaboration in financial supervision and enhance mutual information sharing.
* This article has been translated by AI.
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