The Korea Institute for Economic Policy (KIEP) held a Visiting Scholar Seminar with Professor Chiara Oldani from the University of Viterbo-La Tuscia in Italy at the KIEP conference room on September 3, 2024. The seminar was organized online and offline, held to share the results of research conducted jointly with other researchers at KIEP over her visiting period.

Professor Chiara Oldani made a presentation on “The Roles of the G-20 and South Korea in Decentralized Finance.” She shared the direction of discussions among the G20 countries on governance, regulation, and supervision related to the digital economy and decentralized finance. Professor Oldani also presented her thoughts on what role Korea should play in this regard.

“G20 leaders agreed that the world needs to shift its approach from crisis ‘response’ to ‘prevention’ to address the challenges arising from the transition to a digital economy,” she noted, adding that this has proven effective in coping with the massive fluctuations and losses in decentralized finance that occurred in 2022. Professor Oldani stressed the need for G20 leaders to recognize how the factors threatening financial stability in the digital economy stem from a lack of oversight and supervision of digital assets.

She explained that Korea, where people have become used to digital innovation technologies and use digital services extensively, will be instrumental in dealing with these key G20 agendas. Furthermore, Professor Oldani mentioned that the G20 should explore ways to effectively regulate and supervise digital financial inter-mediation and trading, and consider standardizing data in the future. She predicted that Korea will be able to solidify its role as a G20 member country as it has been striving to consolidate its global leadership in the digital sector.

Various experts from KIEP attended the seminar, including Executive Director Young Sik Jeong and Dr. Hayun Song of the Department of International Macroeconomics, Dr. Young-ook Jang and Dr. Young Jun Lee of the North America and Europe Team, and Dr. Sunghwan Kim of the Africa, Middle East, and Latin America Team.

- Topic: The Roles of the G-20 and South Korea in Decentralized Finance

- Date & Time: Tuesday, September 3, 2024, 09:00-13:00 

- Venue: KIEP conference room (4F), Sejong

- Presenter: Professor Chiara Oldani, University of Viterbo-La Tuscia, Italy

- Host: Korea Institute for International Economic Policy (KIEP)

- Contact: Da Woon Lee, Researcher, Africa, Middle East, and Latin America Team (dawnlee@kiep.go.kr)