KIEP President Siwook Lee mentioned that despite various downside risks to the global economy, such as high inflation, persistently high interest rates, and geopolitical risks, the conditions for financial internationalization have been created due to significant improvements in Korea's external soundness and its ability to respond to external shocks." Furthermore, he emphasized that financial internationalization is a crucial policy challenge for securing new sources of growth and establishing a stable current account surplus structure.

Vice Chairman So young Kim of the Financial Services Commission said in his keynote speech that the global financial environment is rapidly changing due to the digitization of finance and the expansion of sustainable finance. He emphasized that the globalization of finance is an essential task to  secure new growth momentum and called for the promotion of global initiatives in the capital market and the systematic support processes for financial institutions, as well as the revision of outdated regulations.

Mr. Sung Jin Kang, President of the Korea International Economic Association (KIEA), said in his welcoming remarks that in the changing global financial environment it is difficult to lay the foundation for sustainable economic development solely through government-led policy finance and regulation. He suggested policies such as financial administrative innovation, the creation of a digital innovation financial ecosystem, and other measures to enhance the competitiveness of the domestic financial market.

The event was attended by President Siwook Lee of KIEP, Vice Chairman So young Kim of the Financial Services Commission, President Sung Jin Kang of the Korea International Economic Association (KIEA), as well as Senior Research Fellow Young Sik Jeong of KIEP, Senior Research Fellow Yoonsok Lee of the Korea Institute for Finance (KIF), Professor Jung-Hwan Hyun of Dongguk University, Senior Research Fellow Hyo Seob Lee of the Korea Capital Market Institute (KCMI), Managing Director Min-Hoon Kang of the NH Investment & Securities Co, Professor Sun Young Park of Dongguk University, Professor Eun-sook Seo of Sangmyung University, Professor Tae Yong Jung of Yonsei University and other experts and researchers.

- Date: Friday, October 20, 2023, 1:30 PM - 5:00 PM

- Venue: 15th Floor, Kensington Hotel Yoido

- Hosted by: Korea International Economic Association (KIEA), Korea Institute for International Economic Policy (KIEP)

- Contact: Yena Song, Researcher of the International Finance Team (syena@kiep.go.kr)