Korea Financial Investment Association signs MOU with Japan's IMAJ to deepen asset management ties

The Korea Financial Investment Association has signed an MOU with Japan's Investment Management Association to deepen cooperation between the two countries' asset management industries.

The Korea Financial Investment Association announced Thursday that it signed the agreement with the Investment Management Association of Japan during the 39th annual general meeting of the International Investment Funds Association, held Wednesday (local time) in Toronto, Canada. The MOU aims to strengthen cooperation and advance the asset management industries of both countries.

The agreement was concluded to build a foundation for sustained cooperation and mutual understanding between the Korean and Japanese asset management sectors. Under the MOU, the two organizations plan to exchange staff, share information on each country's asset management markets and regulatory systems, and hold joint seminars and workshops.

The MOU will also kick off a series of exchanges between the two bodies. The Korea Financial Investment Association plans to send a speaker to the Investment Management Association of Japan's inaugural conference in Tokyo this month to introduce the structural changes and growth of South Korea's asset management market, as well as the industry's efforts to expand long-term asset accumulation.

In November, Investment Management Association of Japan President Yoshio Hishida will visit Seoul as an official guest of the 11th International Financial Cooperation Forum, hosted by the Council for International Financial Cooperation. During his visit, Hishida will meet with member firms of the Korea Financial Investment Association to share the latest trends and policy developments in Japan's asset management market and explore avenues for bilateral industry cooperation.

The MOU also aligns with the Korea Financial Investment Association's broader push to expand its global network. The association was re-elected to the board of the International Investment Funds Association in July and is set to participate in discussions on international regulation and pension and investment policy for the next two years.

"We hope this MOU will go beyond a simple exchange of information and lead to tangible results in practical cooperation," Korea Financial Investment Association Chairman Hwang Seong-yeop said. "The association will play an active role in helping the asset management industries of both countries grow together by sharing each other's experiences and strengths."