In the five decades since the end of the Korean War, Korea has developed from an impoverished, agrarian nation with a per capital GDP of less than $50 to the twelfth largest economy in the world and one of the leading global trading nations with an estimated per capita GDP of U.S. $20,165 in 2010. Despite this phenomenal economic achievement, Korea’s financial system lags behind its economic and trading status. According to the World Bank Survey, its financial system is ranked twenty-sixth in the world. In order for Korea to continue its economic growth and become a global financial center, its financial system needs to be modernized.
This workshop has been organized to bring senior officials from industry, academic institutes, regulatory bodies, and government together to identify and address some of the issues facing Korea’s capital markets. The workshop’s objective is to conclude with a list of specific action items that can be recommended for implementation in order to address the issues that have been identified.
This workshop is made possible by the generous support from the Koret Foundation.