Mr. Keesun Park, Senior Manager of Risk Management Department and Risk-based Premium Task Force Team and Mr. Changhun Lee, Manager of Office of Information Technology from the Korean Deposit Insurance Corporation (KDIC) attended a customized 10-day program organized by the Central Deposit Insurance Corporation (CDIC) in mid-March 2012. This personnel exchange program is part of the Memorandum of Understanding between the KDIC and CDIC for providing professional expertise and sharing experiences through bilateral exchanges of information and personnel. The personnel exchange program aims at strengthening the deposit insurance systems in respective countries.
The KDIC is scheduled to implement the risk-based premium system in January 2014. The main purpose of the visit was to study the CDIC's risk-based premium system and fund management as well as the operation of deposit insurance system in Taiwan. The program included in-house lectures on deposit insurance system and regulations, risk management of insured financial institutions, the resolution of failed financial institutions, special inspections, public awareness, and information technology system and management. The CDIC President Howard Wang led the other high-level managers of different departments to make presentations on the topics above. CDIC's Chairman David Sun also received the delegation in person. During the study visit, the KDIC delegates exchanged information and experiences on Korea's deposit insurance system with the CDIC staffs.