Senior finance and central bank officials from 11 Asian nations visit Korea to share financial infrastructure

Senior finance ministry and central bank officials from 11 Asian countries are visiting Korea this week to share international cooperation experiences in responding to financial crises and to examine Korea's digital budget accounting and anti-money laundering systems.

The Ministry of Economy and Finance announced Monday that it is hosting the 19th Asia Senior Officials Invitational Training Program from Monday through Friday. Six ASEAN member states are taking part — Laos, Vietnam, Brunei, Indonesia, Cambodia and the Philippines — along with Mongolia and four Central Asian nations: Uzbekistan, Kazakhstan, Kyrgyzstan and Tajikistan.

Experts from academia, research institutions and public institutions will serve as instructors. The program covers Korea's economic development experience and key economic and financial policies, as well as international financial cooperation cases including global and regional financial safety nets — cooperative mechanisms that provide foreign currency liquidity and other support during crises.

Participants will also visit the Bank of Korea, Korea Exchange, Shinhan Bank and Hana Bank. They are set to observe how Korea operates its domestic financial infrastructure, including systems for digitally managing government budgets and accounting, as well as anti-money laundering systems that monitor financial transactions.

The ministry has run the program since 2007 to expand economic and financial exchanges with ASEAN, Mongolia and Central Asian countries. Through this year's training, it aims to broaden ties between domestic financial institutions and policy authorities in participating countries, and to strengthen the foundation for regional financial cooperation.