The International Financial Services Centres Authority (“ IFSCA ”/ “ Authority ”) has issued a Press Release, dated April 20, 2026, on signing of a Memorandum of Understanding (“ MoU ”) between the IFSCA, India and Financial Services Commission, Korea (“ KFSC ”) at the Korea-India Financial Cooperation Forum held in New Delhi, on the sidelines of visit of H.E Lee Jae Myung, President of Republic of Korea to India (“ Press Release ”).
The key highlights of the Press Release are as follows:
- The objective of the MoU is to strengthen regulatory cooperation and to advance the development of financial services ecosystem in both the jurisdictions.
- The MoU was signed by Mr. K. Rajaraman, Chairperson, IFSCA, from Indian side, while from the Korean side, Mr. Lee Eog-weon, Chairman, Financial Services Commission of Korea & Mr. Lee Chanjin, Governor, Financial Supervisory Service of Korea, signed the MoU.
- Smt. Anuradha Thakur, Secretary, Department of Economic Affairs, Ministry of Finance, Mr. Hangyong Lee, Chairman, Council on International Financial Cooperation, along with senior officials and stakeholders from both sides were present at the time of MoU signing.
- The MoU also aims to promote collaboration and mutual support between IFSCA and KFSC by enabling the exchange of information and best practices to build robust financial services ecosystems in both jurisdictions.
- It includes sharing of knowledge and expertise on emerging technologies and innovations, highlighting both authorities’ dedication to fostering innovation alongside effective regulation.
- Further, the MoU underscores the shared commitment of India and Korea to strengthening financial ties and enhancing cooperation between their financial ecosystems.
- It establishes a structured framework for dialogue, collaboration, and the exchange of expertise between two globally aligned financial regulators.
A copy of the Press Release is attached herewith for your ready reference.
Source category: IFSC Insurance Office
Comments are closed