In order to extend its strong relationship of cooperation with the Korea Deposit Insurance Corporation (KDIC), further promote information sharing and cooperation mechanism of the Asia Pacific Regional Committee of the International Association of Deposit Insurers(IADI), the Central Deposit Insurance Corporation (CDIC) on March 11, 2011 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 KDIC, in order to extend the formal bilateral relationship of cooperation. CDIC was represented by its Chairman Mr. Fred S.C. Chen and KDIC by its Chairman and President Mr. Seung Woo Lee.
The signing ceremony on this occasion was attended by Mr. Hsien-Nung Kuei, Director General, Banking Bureau, Financial Supervisory Commission, Mr. Yangig Cho, the Head of Office of International Affairs, KDIC, and directors, supervisors, members of the Consultative Committee, senior executives and staff from CDIC. In addition to delivering short remarks on developments in the deposit insurance systems of both CDIC and KDIC, as well as on the current state of cooperation between them and the outlook for the future, the representatives of the two organizations 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, CDIC and KDIC will continue to strengthen the deposit insurance systems in respective countries through bilateral exchanges of information and personnel, the provision of professional expertise and the sharing of experiences, with a view to enhancing financial stability in the Asian region.