Financial Services Commission Chairman Lee Eog-weon met Standard Chartered Group Chief Financial Officer Manus Costello and Chief Risk Officer Jason Forrester to discuss technological change in global finance, emerging risks and South Korea’s development as a global financial hub. They agreed that accelerating artificial intelligence transformation in finance requires a safe and responsible approach that addresses potential risks. The discussion also addressed South Korea’s financial center strategy under the 2026–2028 plan adopted in August, which prioritizes financial innovation, global infrastructure, capital market development and stronger engagement with foreign financial institutions. Lee said the commission would continue improving the regulatory and operating environment and reflect input from global financial groups in policy. Standard Chartered highlighted South Korea’s export and industrial base, growing capital markets and digital capabilities, as Seoul and Busan reached record rankings of seventh and 22nd respectively in the September Global Financial Centres Index.
South Korea Financial Services Commission discusses responsible AI adoption and financial hub strategy with Standard Chartered
The South Korea Financial Services Commission and Standard Chartered discussed emerging technology risks and agreed on the need for safe and responsible AI adoption in finance. They also reviewed South Korea’s global financial hub strategy, with the commission pledging further regulatory and operating improvements under its 2026–2028 plan.