Trang Chủ
This visit came at a pivotal time as DIV has been focusing its resources to conduct researches on detailed provisions of the draft amended Law on Deposit Insurance as a proposal to the State Bank of Vietnam. Once finalized, they will be submitted to the Government and subsequently the National Assembly for approval. The study trip provided a valuable opportunity for DIV and the accompanying authorities to learn from KDIC's good practices, particularly in terms of responsibilities that may be assigned to DIV in the future.
Photo: DIV General Director Dang Duy Cuong discusses with KDIC Chairman and President JaeHoon Yoo
During the visit, DIV General Director Dang Duy Cuong and KDIC Chairman JaeHoon Yoo shared insights into the work and achievements of their respective organizations while potential highlighting areas for future cooperation. Chairman Yoo expressed KDIC's willingness to support DIV in accessing Korea's trust funds through international mechanisms such as the World Bank, the Asian Development Bank, and the ASEAN Secretariat. This support could help enhance Vietnam's deposit insurance system. He also suggested arranging secondments for DIV staffs to exchange knowledge at KDIC.
While KDIC showcased several of its notable achievements in digital transformation, including: developing a Deposit Management System (DMS), leveraging AI for insurance display checking, launching a public mobile application offering comprehensive services Such as deposit and bankruptcy dividend payouts and misdirected money transfer support, these innovations present significant learning opportunities for DIV as it is developing its own Digital Transformation Strategy. Chairman Yoo also proposed sending KDIC IT experts to assist DIV in realizing its IT initiatives.
Photo: DIV delegation and KDIC colleagues at Samcheonggak, a historical and cultural site in South Korea where the South-North Korea negotiations took place in 1972.
In addition, the DIV delegation met with representatives from the Bank of Korea and the Korea Financial Stability Commission (FSC).
Photo: DIV General Director Dang Duy Cuong and FSC Vice Chairman Soyoung Kim
During a meeting with FSC Vice Chairman Soyoung Kim, the delegation gained insights into Korea’s efforts to restructure its financial system and the roles of various authorities within Korea’s financial safety net.
The delegation also met up with the Financial Stability Department under the Bank of Korea and participated in a presentation by Professor Hoon Kim on the development and importance of Korea's Financial Stability Report in risk assessment and management .
Photo: DIV delegation and accompanying colleagues at the Bank of Korea
In summary, the study trip was a significant success. It not only provided valuable insights into KDIC's experience to support the DIV's drafting of amendments to the Law on Deposit Insurance, but also opened up opportunities for cooperation via meetings between DIV and Korea's regulatory agencies in providing access to technical and financial resources, improving human resources capacity and advance the digital transformation at DIV.
Department of Research and International Cooperation
