Korea, UK to enhance bilateral cooperation in financial sector

South Korea and the United Kingdom have agreed to enhance their bilateral cooperation in the financial sector. Officials from the countries also discussed ways to finance funding for Korea’s reunification when it happens.
Song Ji-sun has the details. Senior financial officials from South Korea and the United Kingdom gathered in London Tuesday… to strengthen the two countries’ financial ties.
Chaired by Korea’s Financial Services Commission chief Shin Je-yoon and Lord Mayor of the City of London Fiona Woolf, officials from Seoul also suggested channeling loans from international financial institutions to help North Korea… prepping for reunification in the future.

“It’s crucial to secure enough funding for the construction of highways, ports, factories, and energy infrastructure in North Korea when the two Koreas unite.
We need cooperation from the international financial community to ask for loans for those projects.”

The UK greeted the idea with enthusiasm… saying Korea-UK financial ties will be a new model in financial cooperation.
The two countries will make their first step by jointly exploring the Asian and African markets.

“Providing us with the opportunities to share best practice, and also seek to consider how we can cooperate on financing infrastructure into third countries.”

Both sides also shared their views on consumer financial protection… and cooperating in the fields of financial supervision.
The one-day forum was a follow-up to President Park Geun-hye’s state visit to Britain last year.
Song Ji-sun, Arirang News.