SDIF to increase cooperation with South Korea in the field of deposit insurance

The Savings Deposit Insurance Fund and the Korea Deposit Insurance Corporation will increase their cooperation in the field of deposit insurance.

According to the statement made by the SDIF, a delegation including South Korea Deposit Insurance Fund President Tae-hyun Kim visited the SDIF.

With the new memorandum of understanding signed between SDIF President Fatin Rustu Karakas and KDIC President Tae-hyun Kim during the visit, the cooperation between the two institutions will be further developed and information, experience and practices will be shared between the institutions.

During the visit, the KDIC delegation was informed about the deposit insurance, resolution, recovery and trustee functions of the SDIF. KDIC officials were also informed about the general functioning of the South Korean deposit insurance system, their experience in crisis management and resolution, and the functioning of the loan guarantee fund affiliated to the South Korean deposit insurance authority.

Source: Trthaber / Translated by Irem Yildiz

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