OJK and Korea Agree to Strengthen Cooperation in Financial Services

By Regulatory News

September 11, 2019

OJK and Korea Financial Services Commission agreed to continue to enhance cooperation in the financial services sector, especially in the face of the era of digital transformation. The agreement was signed at an Indonesia-Korea Financial Cooperation Forum event held by OJK in Jakarta on September 10, 2019. The event was attended by nearly 150 participants from the financial services sector in Indonesia and Korea and was focused on the theme of technological development in the financial services sector.

Speakers from the two countries exchanged experiences in explaining the development and use of technology in the financial services sector as well as the approaches and policies adopted. The main discussion in the forum was held on topics such as development of fintech, the future of the financial services industry, and the role of technology in the banking sector, non-banking financial industry, and capital markets. On a separate occasion, during a bilateral meeting between OJK and Korea Financial Services Commission, an OJK official said that fintech can be a solution to improve access to financial services in the regions. Therefore, Indonesia is open to cooperation in the financial services sector with various parties to increase the capacity of the Indonesian financial services sector to utilize technology in financial services.

Related Link (in Indonesian): Press Release

Keywords: Asia Pacific, Indonesia, Korea, Banking, Securities, Non-Banking Institutions, Fintech, FSC, OJK

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