Friday, November 29th, 2013
SEOUL, KOREA - The Korea Capital Market Institute will transfer Korea's know-how in capital market management to developing countries through the Asian Development Bank. Kim Hyung-tae, the institute's president, met on November 28 Bindu Lohani, ADB vice president, and signed an agreement to work together in technology transfer and research.
According to the institute, this is the first occasion for any Korean research outfit to sign a comprehensive pact with ADB in the finance area. Domestic institutions that have so far signed agreements with the developing bank include the Ministry of Strategy and Finance, Korea EximBank, and Korea International Cooperation Agency.
The latest agreement contains provisions on cooperation among three East Asian countries of China, Japan, and Korea, enhancing the efficiency of capital market infrastructure, and building of a comprehensive supervision system on financial products and services.
With this agreement, the Korea Capital Market Institute, as well as other Korean entities jointly with the institute, will be able to transfer its knowledge and know-how to developing countries in Asia. For example, a developing nation within the region can ask for help to ADB, which in turn will designate the institute as the think tank institution to do the job such as introduction of rules on mergers and acquisitions and securities law revisions.