Korea Deposit Insurance Corporation (KDIC) and the Korea Securities Association (KSA) announced on March 21 that they held a forum to enhance capital market confidence and strengthen cooperation in the Asia-Pacific region.
KDIC and the KSA jointly hosted the 2025 KDIC Asia-Pacific Forum in Seoul on March 21.
The forum focused on reviewing the deposit insurance system in the financial sector to build capital market confidence and boosting cooperation among deposit insurance organizations in the Asia-Pacific region.
The forum was attended by about 120 current and former executives from eight countries in the Asia-Pacific region, including Yoshio Okubo, chairman of the JIPF in Japan, former Chairman Thierry Dissaux, a former chairman of the FGDR-EFDI, and Chairman Chang Hsin-ti, chairman of the SFIPC in Taiwan, and experts from the securities academia and industry in Korea, including Dr. Kim Se-wan, director of the Capital Market Research Institute.
KDIC is an integrated deposit insurance organization that operates a protection system covering the deposit business, insurance business and investment business sectors.
Through this forum, KDIC plans to explore ways to develop the KDIC system that balances financial innovation and consumer protection.
“In order to enhance the safety and trust of the capital market, it is necessary to review the framework of the nation’s deposit insurance system for financial investment sector and prepare for a new financial environment,” Yoo Jae-hoon, president of KDIC, said in his opening speech.
“We hope that this forum will serve as a springboard for practical cooperation among deposit insurance organizations in the Asia-Pacific region.”
“The financial industry is facing new opportunities and challenges amidst accelerating innovation and digitalization,” said Jeon Jin-kyu, chairman of the KSA.
“We hope that this forum will discuss global financial stability and the development of deposit systems in the financial investment industry and that experts from the Asia-Pacific region will work together to find ways to enhance trust and transparency in the capital market.”
The forum was organized into three sessions — Global Trends and Policy Directions; Current Status and Challenges of Korea’s Deposit Insurance System; and Asia-Pacific Cooperation and Case Sharing.
KDIC signed a memorandum of understanding with Japan’s JIPF whose officials attended the forum to strengthen cooperation between the two organizations.
KDIC will continue to enhance the fairness and transparency of the deposit insurance system to enhance the safety and reliability of the capital market and further expand cooperation among deposit insurance organizations in the Asia-Pacific region.
Promotion of Mistakenly Transferred Money Recovery Service
KDIC announced on April 2 that it will greatly strengthen the promotion of the Mistakenly Transferred Money Recovery Service in cooperation with financial companies.
Starting this month, Korea’s five major commercial banks will broadcast videos on the return of erroneous remittances viaTV and ATM in their branches.
This is a measure to help users respond quickly in the event of a mistaken remittance and prevent mistakes in advance in spaces where actual remittances are made.
In addition, image advertisements will be run at major bus stops in the Seoul area for two months starting from April.
Foreign language guides will be placed at foreigner support centers nationwide to make it easier for foreigners living in Korea to use the system.
Agreement with Korean Red Cross
KDIC will cooperate with the Korean Red Cross for social contribution.
KDIC announced on April 4 that it signed an MOU with the Korea Red Cross to promote community coexistence and social contribution at the Korean Red Cross’ Seoul office in Jung-gu, Seoul.
Under the agreement, the two organizations will cooperate to spread a culture of sharing, including support projects for the vulnerable, disaster relief projects such as support for disaster victims, economic and financial education for the financially underprivileged, and blood donation drives.
At the signing ceremony, KDIC donated 20 million won to the Korean Red Cross. The donation will be used to support the victims of recent wild wildfires that occurred on March 21.
