Koo Yun-cheol, Minister of Economy and Finance, meets with reporters on May 5. [Photo=Ministry of Economy and Finance]
Koo Yun-cheol, the Minister of Economy and Finance, met with top executives from global financial institutions in London to discuss reforms in South Korea's capital markets and ways to enhance cooperation in the fields of artificial intelligence (AI) and advanced industries.
On May 19, the Ministry of Economy and Finance announced that Koo held discussions with executives from HSBC and Schroders during the 'Korean Economy Investment Briefing' in London on May 18. They exchanged views on the growth potential of the South Korean economy and ways to expand cooperation.
During his meeting with George Elhedery, CEO of HSBC, Koo outlined the South Korean government's policies for modernizing the foreign exchange and capital markets, as well as strategies for collaboration with global financial institutions.
"We are focusing on making the capital market a key platform for economic growth and are committed to advancing the foreign exchange and capital markets," Koo said, emphasizing the importance of active participation from financial institutions with global networks like HSBC.
Elhedery welcomed South Korea's ongoing efforts to reform its foreign exchange and capital markets, noting that the country is enhancing its openness and international connectivity in financial markets, thereby strengthening its role in the global economy.
He added, "Having maintained ties with Korea since 1897, HSBC will expand cooperation in areas that drive future growth, such as AI infrastructure, energy transition, and advanced industries, while supporting the international expansion of Korean companies and investors in the long term."
In his meeting with Richard Oldfield, CEO of Schroders, Koo discussed the achievements of South Korea's capital market reforms and investment opportunities in AI and advanced industries. He stated, "Reforming the foreign exchange and capital markets is not a short-term event but a structural and ongoing challenge, making collaboration with global investment institutions crucial. I hope to see increased participation from long-term investment capital like Schroders in new growth areas such as AI and advanced industries."
Oldfield responded that the commitment to improving corporate governance, enhancing shareholder returns, and addressing the 'Korea Discount' is key to structural change. He expressed a desire to continue long-term cooperation with South Korea in areas such as renewable energy, energy transition infrastructure, and venture capital.
On May 19, the Ministry of Economy and Finance announced that Koo held discussions with executives from HSBC and Schroders during the 'Korean Economy Investment Briefing' in London on May 18. They exchanged views on the growth potential of the South Korean economy and ways to expand cooperation.
During his meeting with George Elhedery, CEO of HSBC, Koo outlined the South Korean government's policies for modernizing the foreign exchange and capital markets, as well as strategies for collaboration with global financial institutions.
"We are focusing on making the capital market a key platform for economic growth and are committed to advancing the foreign exchange and capital markets," Koo said, emphasizing the importance of active participation from financial institutions with global networks like HSBC.
Elhedery welcomed South Korea's ongoing efforts to reform its foreign exchange and capital markets, noting that the country is enhancing its openness and international connectivity in financial markets, thereby strengthening its role in the global economy.
He added, "Having maintained ties with Korea since 1897, HSBC will expand cooperation in areas that drive future growth, such as AI infrastructure, energy transition, and advanced industries, while supporting the international expansion of Korean companies and investors in the long term."
In his meeting with Richard Oldfield, CEO of Schroders, Koo discussed the achievements of South Korea's capital market reforms and investment opportunities in AI and advanced industries. He stated, "Reforming the foreign exchange and capital markets is not a short-term event but a structural and ongoing challenge, making collaboration with global investment institutions crucial. I hope to see increased participation from long-term investment capital like Schroders in new growth areas such as AI and advanced industries."
Oldfield responded that the commitment to improving corporate governance, enhancing shareholder returns, and addressing the 'Korea Discount' is key to structural change. He expressed a desire to continue long-term cooperation with South Korea in areas such as renewable energy, energy transition infrastructure, and venture capital.
* This article has been translated by AI.
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