President Park Geun-hye paid a state visit to the United Kingdom. One of the important reasons for her trip is to visit the Global Financial Centre of London. London is the hub of global inter-bank transactions and securities trade.
In particular, the Korean government is planning to establish ‘Financial Customer Protection Agency(tentative)’ which is a similar organization to the UK’s Financial Conduct Authority which expectedly would form a communication channel between the financial regulators of each country.
Moreover, President Park and the counterparts of France on November 4 reached an agreement to form a cooperative relationship in financial and insurance industry.