ABOUT HOSTS

About BOT
The Bank of Thailand (BOT),  the central bank of Thailand, ensures that the financial system remains accommodative to support the economic growth and stability which will provide sustainablewell-being to public at large. 

The economic development that affects the sustainable well-being of Thai people depends on various factors. One of which is the sound management of the financial and economic system. According to the Bank of Thailand (BOT) Act, the BOT is responsible for preserving the national economic and financial stability by formulating and implementing the monetary policy, supervising and examining the financial institutions system.

The Bank of Thailand is aware of the importance of the cooperation with other central banks, international organizations as well as other agencies and stakeholders at bilateral, regional, and global level. Such cooperation aims at enhancing financial and economic stabilities, fostering financial connectivity and development to better support trade and investment activities, and implementing capacity building initiatives for economic and financial agencies of neighboring countries to better cope with challenges going forward, which could pave the way for economic growth, inclusiveness, and sustainability.

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About FSC
The Financial Services Commission is a government agency with the statutory authority over financial policy and regulatory supervision. The FSC’s functional responsibilities are shared among the Securities and Futures Commission (SFC) and subordinate bureaus.

Korea’s financial supervisory structure underwent major changes following the Asian financial crisis in 1997. To ensure effective and efficient supervision of all financial sectors, the Financial Supervisory Commission was established in April 2008 as an integrated supervisory agency with consolidating financial supervisory authorities across all financial sectors.

The Financial Supervisory Commission was reorganized into the current Financial Services Commission (FSC) on February 29, 2008 with the integration of the Financial Policy Bureau of the former Ministry of Finance and Economy. The FSC thus has the statutory authority to draft and amend financial laws and regulations and issue regulatory licenses to financial institutions.

In addition, the FSC oversees cross-border matters such as supervising foreign exchange transactions conducted by financial institutions to ensure their financial soundness. Korea Financial Intelligence Unit (KoFIU), which was also integrated into the FSC as part of the reorganization, leads the government’s anti-money laundering and counter-terrorism financial efforts.


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About CIFC
In October 2011, the Financial Services Commission took the initiative in establishing the 1st meeting of a Council on International Financial Cooperation to facilitate systematic overseas expansions and financial cooperation. Comprised of the heads of domestic financial institutions, the council examined the current status of international financial cooperation and discussed ways to support financial institutions’ overseas expansions based on sharing Korea’s experience in financial development.

At the 2nd meeting held in November 2012, it was decided that a secretariat be established under the Korea Institute of Finance to exclusively handle work related to international financial cooperation so as to support Korean financial institutions’ expansion overseas, and revitalize international cooperation in the financial sector.
In February 2013, the official Council, ‘Council on International Financial Cooperation’ was launched as it established its secretariat office, the Center for International Financial Cooperation. Since then, as a non-profit voluntary organization, CIFC has actively carried on its cooperation businesses to strengthen bases for global financial cooperation by sharing Korea’s financial experiences and best practices to the world.

As of 2023, CIFC is comprised of 25 major public and private financial institutions and financial associations in Korea.


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CIFC Activities

CIFC actively builds networks with experts in financial companies, regulatory authorities and international organizations by hosting the International Financial Cooperation Forum, Bilateral Financial Cooperation Forum, Knowledge Exchange Initiatives and Invitational Seminars. In additions, CIFC provides support to the members by conducting Research Projects and regularly publishing online Newsletters and E-mail Service featuring the latest financial trends and cooperation agenda.
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International Financial Cooperation Forum

The International Financial Cooperation Forum (IFCF) is hosted annually to bring together financial leaders from around the world to share insights and experiences to deepen global financial cooperation.
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Bilateral Financial Cooperation Forum

Bilateral Financial Cooperation Forum is jointly held with financial supervisory authorities of partner countries to broaden understanding of the financial environment and deepen financial cooperation between the two countries.
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Knowledge Exchange Initiative

The Knowledge Exchange Initiative (KEI) is an invitational capacity building program which consists of a financial cooperation seminar, networking events and various study visits to relevant financial institutions in Korea.
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Invitational Seminar

CIFC regularly invites various financial experts to examine the current trends and policy changes in global financial market and explore future cooperation opportunities.
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Research Project

CIFC carries out research projects to provide expert analysis and the latest trends on financial policy, financial systems and environment of a country of interest.
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Publication

CIFC publishes Annual Reports and regularly sends out Newsletters and E-mail Service featuring in-depth op-eds about members, interviews with partner institutions, and the latest financial issues.
Thailand-Korea Financial Cooperation Forum

Tel : +82-2-3705-6147 / Fax +82-2-3705-6288
E-mail : cifc@kif.re.kr