By: Embassy of the Republic of the Philippines, Seoul

Seoul, 30 November 2017 - Philippine Ambassador to ROK Raul S. Hernandez and envoys from ASEAN member countries in Seoul met with CEOs of Korean banks and South Korean government financial regulatory officials at the 3rd Annual ASEAN Ambassadors and Korean Banks CEOs Dinner on 27 December 2017 held at the Banker�?s Club in central Seoul.

The dinner was hosted by the Financial Services Commission (FSC), the Financial Supervisory Service (FSS), and the Korean Federation of Banks (KFB).

In his speech in behalf of the ASEAN ambassadors, Ambassador Hernandez expressed hopes that the gathering would serve as a good beginning in a long relationship between ASEAN-member countries and with Korea's financial service providers, especially at the onset of President Moon Jae-in's New Southern Policy.

He further remarked that, "In the past, Korea has tended to focus a big amount of diplomatic and economic attention on other countries. The large potentials in ASEAN have been underrealized, We now hope that Korea's Southern Policy will usher in a new era of dramatically strengthened cooperation with Korea's neighbors, the ASEAN people." The Ambassador also highlighted the vast potential and opportunities ASEAN has for Korean overseas expansion.

Chariman Choi Jung-ku of the Financial Services Commission (FSC) briefed the ASEAN ambassadors on the Korean government's New Southern Policy and its vision of establishing a Korea-ASEAN joint community. He emphasized the need to bolster cooperation with ASEAN member states. "This means that Korea and ASEAN should develop a true friendship, not just consider each other as business partners," Chairman Choi stated. He added that the FSC will work hard to share its experiences and to develop joint projects with ASEAN member states.

This gathering of ASEAN Ambassadors and Korean Bank CEOs is held annually to strengthen financial cooperation between Korea and ASEAN member states.

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