South Korea’s Financial Services Commission reported on a meeting between Vice Chairman Shin Jin-chang and Citigroup Head of International Ernesto Torres Cantu concerning investment and corporate financing in Korea. Citigroup expressed its intention to continue investing in the market and expand financing for innovative and growing Korean companies through its global network and expertise. Shin urged the group to align that support with the government’s shift toward productive finance.
Both sides emphasized protecting existing customers and implementing the customer protection plan during Citibank’s withdrawal from retail banking in Korea, which was announced in October 2021. They also agreed on the need to strengthen global information sharing and joint responses to emerging cyber threats associated with advances in artificial intelligence.