Korea Deposit Insurance Corporation (KDIC) and Korea Asset Management Corporation (KAMCO) are the first two partners signing Memorandum of Understanding (MOU) with Central Deposit Insurance Corporation (CDIC) to establish formal bilateral cooperative relationship since March and August 2003 respectively. Afterwards the MOUs were renewed once to twice.
In order to enhance the cooperation, as well as to get better understanding on the current financial situation and development of Korea facing the global financial crisis, CDIC President Mr. Howard N. H. Wang led a delegation to visit KDIC and KAMCO and participate in the annual partners’ meetings in Seoul on December 14-17,2008.
In the meetings, each party exchanged their views on the financial crisis issues and other related matters and agreed that in the future, the CDIC together with the KDIC and KAMCO will continue, by means of bilateral exchanges of information and personnel, to provide professional expertise, so that both countries will become more proficient in the development of the deposit insurance systems and NPLs handling mechanism.