Financial Services Commission Chairman Lee Ok-keun met with Dame Susan Langley, the Lord Mayor of the City of London, to discuss expanding financial cooperation, including climate finance, between Korea and the UK.
The Financial Services Commission announced that the meeting took place on June 15 at the Government Complex in Seoul.
Langley noted that since the conclusion of the Korea-UK Free Trade Agreement negotiations in December, opportunities for collaboration in capital markets and fintech have increased. She expressed interest in the green transition (GX) support policies announced by the Financial Services Commission in February and proposed expanding financial cooperation for sustainable growth.
This visit marks Langley's first trip to Korea in seven years, having last visited in 2019. She will be in Korea for two days starting June 15.
Chairman Lee explained that the Korean government has set a national greenhouse gas reduction target (NDC) for 2035 to achieve carbon neutrality and is promoting a Korean-style green transition (K-GX).
To support these efforts, the Financial Services Commission is working to institutionalize environmental, social, and governance (ESG) disclosure. Five policy financial institutions, including the Korea Development Bank, Export-Import Bank of Korea, Industrial Bank of Korea, Korea Credit Guarantee Fund, and Korea Technology Finance Corporation, plan to supply a total of 790 trillion won in climate finance from this year until 2035.
Lee emphasized that "climate change occurs across borders, so effective responses require harmonious international cooperation among countries."
Both sides agreed to continue supporting mutual entry for financial companies and to strengthen cooperation for financial system stability and innovation in the financial industry.
* This article has been translated by AI.
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