Vietnam and the Republic of Korea to cooperate in financial supervision. (Source: VNA)

HCM City (VNA) – Vietnam’s National Financial Supervisory Commission (NFSC) and the Republic of Korea’s Financial Services Commission (FSC) on June 7 signed a Memorandum of Understanding on cooperation in financial supervision.

Under the MoU, the two sides will focus on sharing experience in issues relating to financial institutions under the supervision of the two commissions, including their financial supervision models and operation mechanisms, in line with the regulations and laws of each country.

The two commissions will also increase the exchange of information on financial supervision activities and financial institutions in accordance with regulations in each country. They also agreed to cooperate in personnel training, technical support and research.

Experts said the MoU will lay a foundation for bilateral cooperation in perfecting the organisation model and operation mechanism of each side.-VNA