In order to extend its strong relationship of cooperation with the Korea Deposit Insurance Corporation (KDIC), further promote the Asia Regional Committee of the International Association of Deposit Insurers’ information sharing and cooperation mechanism, and celebrate the 3rd International Week of Deposit Insurance, the Central Deposit Insurance Corporation on May 8, 2008 at 10:00 a.m. in the CDIC auditorium (12th Floor, No.3, Nan-Hai Road, Taipei) signed a renewed Memorandum of Understanding (MOU) with the KDIC, in order to extend the formal bilateral relationship of cooperation. The Central Deposit Insurance Corporation was represented by President Mr. Howard N. H. Wang and the Korea Deposit Insurance Corporation by Chairman and President Dae-dong Park.
The signing ceremony on this occasion was presided over by Mr. Fred S. C. Chen, Director General, Department of Financial Inspection, Central Bank and Mr. Tong-Liang Lin, Deputy Director General, Banking Bureau, Financial Supervisory Commission, and attended by several high ranking executives as well as many of the personnel of the Central Deposit Insurance Corporation. In all some 60 people attended. Besides delivering short speeches on the current state of and outlook for economic and financial cooperation between the Republic of China and the Republic of Korea as well as the financial risk arising from increased liberalization and internationalization, the representatives of the two sides shared on the outcome of bilateral exchanges in the past and emphasized that there would be even closer cooperation in the future.
In the future, the Central Deposit Insurance Corporation will continue to strengthen the area of deposit insurance together with the Korea Deposit Insurance Corporation through bilateral exchanges of information and personnel, the provision of professional expertise, and the sharing of international experiences, with a view to establishing a firm base for financial stability in the Asian region.