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S. Korea opens ASEAN financial business gateway in Jakarta
South Korea has been working to establish the South Korea-ASEAN financial cooperation center for several years as part of the President Moon Jae-in administration's efforts to improve ties with the region.
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The ribbon is cut at a ceremony at the ASEAN-South Korea Financial Cooperation Centre on April 13, 2022. (ASEAN-ROK Financial Cooperation Centre/PR Team)
S
outh Korea launched on Wednesday an ASEAN financial cooperation center in Jakarta to serve as a gateway for South Korean finance firms to enter regional markets and vice-versa.
Ambassador of the Republic of Korea to ASEAN Kwon Hee-seog said the center would provide advisory services on many issues including fintech, financial stability, financial infrastructure and cryptocurrencies.
“More than 30 Korean bankers are already operating in Jakarta and Indonesia, and they will engage in more operations and more investment in financial themes,” he said at the secretariat of the Mission of the Republic of Korea to ASEAN office in Jakarta.
The center will also provide a platform for South Korea and ASEAN financial institutions to trade insights on finance-related issues. The center will work closely with Korean embassies in Southeast Asia.
“In the first year, we will establish a firm foothold in Jakarta and will be followed by other ASEAN member states,” Hee-seog said.
Read also: ASEAN will remain important to Korea under new leader
Faizal Chery Sidharta, director of ASEAN Political Security Cooperation at the Foreign Ministry, said on Thursday that the Indonesian government welcomed the financial cooperation center, particularly in speeding up the economic recovery.
