VN, RoK enhance cooperation in financial innovation

VGP – Governor of the State Bank of Viet Nam (SBV) Le Minh Hung and Chairman of the Republic of Korea (RoK)'s Financial Services Commission (FSC) Choi Jong-ku on March 22 inked a Memorandum of Understanding (MoU) on cooperation in field of Financial Innovation between the SBV and the FSC.

March 23, 2018 4:11 PM GMT+7

Photo: VNA

The signing ceremony was organized within the Viet Nam-RoK Financial Cooperation Forum in Ha Noi.

This is the first MoU in this field the SBV has signed with a foreign partner and a crucial mark in completing the legal framework for comprehensive relations between the SBV and the FSC.

In addition, the MoU creates a legal framework for the two sides to strengthen information exchanges and sharing, launch technical cooperation related to modernization of the banking and financial systems as well as apply advanced financial technology in banking activities and services.

Speaking at the forum, Mr. Hung supposed that the forum creates an opportunity for the two sides to understand demands as well as potentials in finance-banking cooperation in the upcoming time, especially in the fourth industrial revolution.

He expected that the relationship between Viet Nam and the RoK in general and cooperation in finance and banking in particular will make outstanding development in the future, especially in renovation and creativity.

By Thuy Dung