South Korean Central Bank Chief to Attend Regional Meeting on Financial Issues, AI Impact
Quick Look
South Korea's central bank chief, Shin Hyun-song, will attend the EMEAP meeting in Singapore to discuss the impact of AI on the financial system, supply chain disruptions, and current economic issues with 10 other regional central bank governors.
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Why It Matters
The EMEAP was founded in 1991 to promote monetary cooperation and the exchange of information among 11 central banks in the East Asia and Pacific region.
SEOUL, July 21 (Yonhap) -- The chief of the South Korean central bank will attend a meeting of top central bankers from the East Asia and Pacific region later this week to discuss recent financial issues, the Bank of Korea (BOK) said Tuesday.
BOK Gov. Shin Hyun-song will exchange views on the impact of artificial intelligence (AI) on the financial system and current economic issues with governors of 10 other central banks in the region at the Executives' Meeting of East Asia and Pacific Central Banks (EMEAP) to be held in Singapore from Wednesday to Friday, the BOK said.
The EMEAP was founded in 1991 to promote monetary cooperation and the exchange of information among the region's 11 central banks, including South Korea, Japan, China, Indonesia, Singapore, Hong Kong, Australia and New Zealand.
Song will also attend the EMEAP Governors' and Financial Supervisors' Meeting, where he is expected to exchange views on financial institutions' AI adoption as well as the financial impact from supply chain disruptions and policy responses, the BOK added.
Open Questions
- What specific policy responses will be discussed?
- What are the key concerns regarding AI's financial impact?
- What outcomes or joint statements will result from the meeting?
