Korean and Japanese regulators collaborate on financial innovation

The chief financial regulators of Korea and Japan have agreed to expand cooperation in digital transformation and financial innovation, in the first regular meeting between the top regulators of the two countries in seven years.

Kim Joo-hyun, right, chairman of Seoul's Financial Services Commission, and Teruhisa Kurita, commissioner of Tokyo's Financial Services Agency, pose for a photo at a meeting in Seoul on Dec. 20, 2023. [YONHAP]

The chief financial regulators of Korea and Japan have agreed to expand cooperation in digital transformation and financial innovation, in the first regular meeting between the top regulators of the two countries in seven years, held in Seoul over two days through Wednesday.

Kim Joo-hyun, chairman of Seoul's Financial Services Commission (FSC) and Teruhisa Kurita, commissioner of Tokyo's Financial Services Agency (FSA), agreed on Tuesday that the two countries will make efforts to expand their cooperation on financial innovation and the digitization of financial services.

Kurita met Financial Supervisory Service Gov. Lee Bok-hyun on Wednesday.

Kim said Korea will hold investor relations events next year amid a growing push by the Japanese government to introduce policies aimed to foster startups.

Kurita said it hopes for a faster sharing of information in the fields of sustainable finance and financial innovations.

BY JIN MIN-JI, YONHAP [jin.minji@joongang.co.kr]