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Financial Supervisory Service www.fss.or.kr
November 3, 2011
Fn Hub Korea to hold 2011 Financial Hub Conference
The Financial Supervisory Service (Fn Hub Korea) is proud to host the 2011 Financial Hub Conference along with the city governments of Seoul and Busan. The event will promote the two cities’ bids to make themselves global financial centers and attract foreign financial companies.
Now in its third year, the conference will be held Thursday, November 3, 2011, at The Plaza Hotel, New York, and Tuesday, November 8, at Grand Hyatt Hotel, New York.
The event will target leading global commercial banks (Citi Group, Bank of America), investment banks (Goldman Sachs, Morgan Stanley), asset management companies (Fidelity, JP Morgan), and shipping finance companies. Previous editions of the conference were held in Hong Kong and Singapore in 2009 and in London and Tokyo in 2010.
FSS First Senior Deputy Governor Choi Soo-hyun, who is also head of Fn Hub Korea, will attend the event. Also slated to participate are 10 representatives from the Seoul Metropolitan Government and the Financial Services Commission and 100 senior executives and representatives from 40 global financial institutions, including Citicorp Vice Chairman Hamid Biglari, Goldman Sachs Managing Director David H. Loeb and Macquarie Group of Companies, Korea Chairman John Walker.
In his keynote address, Mr. Choi will explain Korea’s pan-governmental efforts to stabilize its financial system through enhanced prudential measures such as increased foreign currency liquidity and capital in financial institutions in response to global financial difficulties such as the eurozone crisis. Korea Investment Corp. will also hold a briefing on the prospects of Korea’s asset management market, while Mr. Walker will talk about the strengths of Korea’s financial market from a foreigner’s perspective.
Seoul and Busan city officials will also promote their financial hub development plans and the incentives they offer.
The conference is also expected to expedite the entry of global asset management companies and hedge funds into Korea via the signing of memoranda of understanding (MOU) by the FSS and the Seoul Metropolitan Government with Pyramis Global Advisors (Hong Kong) Limited and two other global asset management companies. The MOUs will cover the three companies’ entry into Korea and support for opening offices at Seoul International Finance Center (SIFC).
News Release
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Financial Supervisory Service www.fss.or.kr
Amidst rising uncertainty in the international financial market due to the European fiscal crisis and the global economic downturn, the conference organizers will use this event as an opportunity to actively promote the preemptive measures taken by the Korean government and regulatory authority to overcome the crisis and raise the global credibility of the Korean financial market. It will also greatly contribute to building a favorable environment for Seoul and Busan to attract foreign financial institutions.
Contact:
Mr. LEE Sang-hoon
Head of Foreign Financial Company Support Team Fn Hub Korea
Tel: (02) 3145-7177
E-mail: shlee4525@fss.or.kr
Soomi Kim
Foreign Press Spokesperson Public Affairs Office
Financial Supervisory Service Tel: +82-2-3145-5803
Fax: +82-2-3145-5808 E-mail: soomi.kim@fss.or.kr
