Korea will transfer its know-how in capital market management to developing countries through the Asian Development Bank (ADB).
The Korea Capital Market Institute (KCMI) said on November 28 that its president Kim Hyung-tae met ADB Vice President Bindu Lohani and signed an agreement to cooperate for technology transfers and research in the financial sector.
According to the KCMI, the agreement contains provisions on the cooperation among Korea, China, and Japan, the enhancement of the capital market infrastructure efficiency, and the establishment of a comprehensive supervision system on financial products and services.
According to the KCMI, the agreement is the first of its kind for a research body in the financial sector, as the Korean government and Korea EximBank have been involved in deals with the regional bank.
The KCMI expects that this agreement will contribute to transferring Korean financial knowledge and know-how to developing countries in Asia.