Lee & Ko Holds the 2018 Korea-Vietnam Joint Financial Forum in Hanoi, Vietnam

Lee & Ko held the 2018 Korea-Vietnam Joint Financial Forum on December 5 (Wed.) at the Lotte Hotel Hanoi in Vietnam on the topic of “Opportunities and Challenges in the Capital Market of Vietnam.”

The Vietnamese financial authorities have pursued enhancement of the regulatory system for the securities market by introducing a comprehensive amendment to the Securities Act. It is because effective development and advancement of the capital market is essential for the Vietnamese economy to continue to grow. Especially, establishing the financial system in which banks that facilitate business financing and the securities market strike the balance is more important than ever before.

Sponsored by the Embassy of the Republic of Korean in Vietnam and the Hanoi Office of the Financial Supervisory Service, this forum aimed to share the experiences of the capital market reforms of Korea and examine expected changes in the capital market of Vietnam following the amendment to the Securities Act. The event achieved great success with more than 170 participants from Vietnamese governmental agencies including the State Securities Commission, the Ministry of Finance, the Prime Minister's Office and the State Bank, and Hanoi Stock Exchange, Vietnam Securities Depository, State Capital Investment Corporation, local financial institutions and businesses.

“When exchanges of trade and capital increase between countries, as seen in the case of Korea and Vietnam, the tariff system and the financial system of them shall be compatible. By sharing experiences of Korea and discussing directions to improvement for the financial system and the capital market in Vietnam at this forum, it is expected to build the foundations for financial exchanges between the two nations,” said Woo Young Jung, a managing partner of Lee & Ko, in his opening speech.

In the first session, Lim Jong-ryong, a former Chairman of the Financial Services Commission, introduced experiences and systems of financial reforms in Korea on the topic of “Development and Policy Directions of the Korean Capital Market.” In the next session, the Ms. Tran Thi Hong Ha, a deputy director of the Securities Market Development Department of the State Securities Commission, gave a presentation on the topic of “Policy regarding Foreign Investors and Foreign Investment Promotion following the Amendment to the Securities Act in Vietnam.”

In the third session, Sang-mok Choi, a former vice minister of the Ministry of Economy and Finance, made a presentation on the theme of “Development and Policy Directions of the Korean Capital Market.” Mr. Nhu Dinh Hoa, CEO of Viet Securities, then, explained “Financing and Investment Opportunities for Foreign Investors in the Securities Market of Vietnam.”

According to a Vietnamese participant, “Amid dynamic changes following the capital market reforms by the Vietnamese government including the recent amendment to the Securities Act, this forum provided an opportunity to seek for various ways toward more active market participation and business financing. It is anticipated that the forum could serve as a chance to encourage a closer cooperation in the capital markets of the two countries.”