Financial Services Commission Chairman Lee Eog-weon Departs for Switzerland... “To Attend FSB Plenary and Finalize ECB MOU”

 
[Financial News] Financial Services Commission Chairman Lee Eog-weon will visit three major global financial centers—Switzerland, Germany and the UK—on a one-week trip. 
According to the Financial Services Commission on the 15th, Lee will attend the Financial Stability Board (FSB) plenary that day and pursue expanded cooperation with European financial authorities. He will finalize an agreement with the European Central Bank (ECB) on a memorandum of understanding (MOU) for banking supervision between Korea and the European Union (EU), and is also scheduled to hear about difficulties faced by Korean financial companies operating locally.
The FSB plenary will discuss global financial vulnerabilities, artificial intelligence (AI), stablecoins and the FSB’s key work plan for next year. Member countries will share policy experience and discuss ways to cooperate internationally in responding to financial issues such as AI. The FSB is an organization involving 59 member institutions—including finance ministries, financial authorities and central banks—from the G20 (including the EU) and five financial centers (the Netherlands, Hong Kong, Singapore, Spain and Switzerland), along with 13 international organizations.
Lee will meet Frank Elderson, Vice-Chair of the ECB Supervisory Board. The two institutions have been discussing an MOU for about two years, since 2024. The agreement formalizes banking supervision cooperation between Korea and the European Union, and its conclusion will be finalized during this visit.
The London itinerary includes public- and private-sector exchanges and visits to sites across the financial industry. According to the Financial Services Commission, London ranked second after New York (first) in the Global Financial Centres Index (GFCI) last September. Seoul ranked seventh. At the UK Parliament, Lee will meet MP John Slinger, the UK Trade Envoy to Korea, to discuss expanding reciprocal market access and investment between Korea and the UK. He will also discuss ways to invigorate the two countries’ financial centers with Bronek Masojada, the newly appointed mayor of London’s financial district, who took office on the 13th.
In the private sector, he will meet Bill Winters, CEO of Standard Chartered Group; Grégoire Pesquet, Amundi’s global fixed-income chief investment officer (CIO); and Sir Charles Roxburgh, CEO of the Lloyd’s insurance market, among others. 
In Frankfurt and London, he will hold meetings with Korean financial companies operating locally. He plans to hear about difficulties related to the business environment and regulations, promptly convey them to the relevant foreign authorities, and support efforts to resolve them. 
[email protected] Park Mun-su Reporter