December 21, 2000
Financial Services Agency

Cooperation between FSA Japan and FSC Korea

Japan and Korea decided upon exploring cooperation between the financial authorities of the two countries at the Japan-Republic of Korea Ministerial Meeting held in October 1999. Based on subsequent discussions on cooperation held between the Financial Services Agency (FSA) of Japan and the Financial Supervisory Commission (FSC) of the Republic of Korea, the two authorities hereby announce the following Press Release regarding cooperation in the field of financial supervision.

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Cooperation between FSA Japan and FSC Korea

December 21, 2000

The Financial Services Agency of Japan and the Financial Supervisory Commission of the Republic of Korea decided to develop further cooperation between the two countries in the field of financial supervision. In accordance with the respective laws and regulations of the two countries, the two sides expressed their willingness to :

-	hold annual high level dialogues,
-	hold discussions of issues relevant to supervision policies in the two countries,
-	cooperate on supervision of Korean financial institutions operating in Japan and Japanese financial institutions operating in Korea,
-	exchange examination and supervision techniques and experts,
-	promote mutual cooperation in the international financial supervisory organizations, and
-	cooperate on any other matters agreed upon by the Authorities.

The two authorities intend to work together to hold the first annual high level dialogue in the first half of 2001.