Chairman Kim Joo-hyun of the Financial Services Commission held a meeting with Japan’s Financial Services Agency Commissioner Teruhisa Kurita on October 3. The meeting between the chief financial authorities of two countries is the first time in eight years since 2015.

After the meeting, the financial authorities of Korea and Japan released a joint press statement underlining the significance of the meeting as a start of resuming the so-called “shuttle meeting” between the financial authorities of two countries against the backdrop of a normalizing bilateral relationship between the two countries.

Joint Press Release

1. The Chairman of the Financial Services Commission (FSC) of the Republic of Korea, KIM Joo-hyun and the Commissioner of the Financial Services Agency (FSA) of Japan, KURITA Teruhisa met in Tokyo today.

2. At the meeting, they agreed to resume the Shuttle Meeting and to meet regularly between the financial authorities of the two countries. The meeting will be held in Seoul, Korea on December 19 and 20, 2023 and it will be the first meeting since 2016.

3. They agreed that sharing experiences and exchanging views on issues of their mutual interest, such as climate change and digitalization of financial services would be useful. They also discussed possible areas for deepening their cooperation aimed at safeguarding financial stability and fostering the financial markets of both countries.

4. They welcomed the Joint Seminar between the Japan Bankers Association and the Korea Federation of Banks held today, and hope the financial institutions of both countries to continue their constructive discussions towards further improvements in the quality of their financial services.

* Please refer to the attached file for details.