Bank of Korea (BOK) Governor Rhee Chang-yong will attend the annual meeting of central bank leaders in the East Asia and Pacific region, scheduled to kick off on Sunday, the BOK announced, Friday.
The three-day conference will be held in Penang, Malaysia.
During the 29th Executives’ Meeting of East Asia and Pacific Central Banks (EMEAP), Rhee will take part in discussions of recent economic and financial trends, as well as explore strategies for intra-country currency settlements related to trade and investment.
Also high on the agenda are reviews of EMEAP subsidiaries, including the Monetary and Financial Stability Committee (MFSC) and its five working bodies.
Their fields of specialty include financial markets, payments and settlements and banking supervision. A group of IT directors and financial institution planning research groups will hold a meeting.
The financial supervisory authorities of five countries — Korea, China, Japan, Australia and Indonesia — will join the meeting, as part of the BOK’s efforts to lead an integrated discussion on developments in the global financial 카지노 system. The invitation was extended to the five countries in July 2011 when Korea’s central bank chaired the 16th EMEAP on Jeju Island.
Rhee will attend a meeting with EMEAP participants and supervisory authorities to discuss the challenges of and strategies for regulating and supervising financial innovation amid digitization, as well as the implications of new global regulations for regional financial conditions.
EMEAP was established in 1991 to fortify cooperation and information sharing among central banks in the East Asia and Pacific region.
Current 11 members are Korea, China, Japan, Indonesia, Malaysia, the Philippines, Singapore, Thailand, Hong Kong, Australia and New Zealand.