There has been created the International Association of deposit Insurers since May 2002, so that international deposit insurers may benefit from each other's experience. The Central Deposit Insurance Corporation (CDIC) is establishing a formal bilateral relationship of collaboration with the Korea Deposit Insurance Corporation (KDIC). The two corporations will sign a Memorandum of Understanding in Taipei at 11 a.m. on March 25, in the CDIC auditorium on the 12th floor of 3 Nan-Hai Road.
Ever since the CDIC joined the International Association of Deposit Insurers (IADI) as a founding member last May, the CDIC has increasingly associated with deposit insurers of other nations. In particular, the CDIC has come in frequent contact with the Korea Deposit Insurance Corporation, which is also an Asian member of the IADI. In the future, the two corporations will formally appoint contact representatives and engage in exchanges of information and personnel, thereby strengthening the development of the two nations' deposit insurance systems.
CDIC President Johnson C.S. Chen and KDIC Vice President Seok-Won Kim will be signing the Memorandum of Understanding, and Chin-Tsair Tsay, CDIC Chairman, will be hosting the ceremony.