Central Deposit Insurance Corporation (CDIC) and Korea Asset Management Corporation (KAMCO) will sign a Memorandum of Understanding to establish formal cooperative ties aimed at strengthening exchange of experience between Taiwan R.O.C. and Korea in resolving distressed assets of financial institutions. The signing ceremony will take place at 11:00 a.m. on August 22 at the CDIC Auditorium (12F, 3 Nanhai Rd., Taipei).
CDIC and KAMCO are government-run organizations in charge of implementing policies to ensure financial stability, promote the sound development of financial institutions, and handle distressed assets of financial institutions. In future the two sides will share expertise and experience in the resolution of distressed assets in order to raise the efficiency of their operations in this area. The two sides will appoint official contact representatives to facilitate such exchanges, which will include the arrangement of meetings, training programs, and information/personnel exchanges.
CDIC Chairman Tsay, Chin-Tsair presided over the signing ceremony for the cooperation MOU. Mr. Tsay and KAMCO Chairman & CEO Mr. Yon, Won-Young represented the two sides in signing the Memorandum.