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Home > Announcement > Latest News |
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KOPEC-SFF Joint Conference |
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Int'l Conference |
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Shinhye Hwang |
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2008-11-03 17:27:47 |
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November 4, 2008 |
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82-2-3460-2353 |
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| Westin Chosun Hotel,Seoul |
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o Theme: Global Financial Crisis and the International Financial Center Competition in Asia-Pacific:
Implications and Challenges for Asia and Korea
o Time & Date: 08:30-14:00, Tuesday, November 4, 2008
o Venue: Orchid Room, 2nd floor, Westin Chosun Hotel, Seoul
o Organized by
Korea National Committee for Pacific Economic Cooperation (KOPEC)
Seoul Financial Forum (SFF)
[Word of Invitation]
Since the Asian financial crisis of 1997-1998, several or more financial centers in the Asia-Pacific economies, including Seoul, have been engaged in vigorous strategic efforts to enhance their competitiveness as International Financial Centers (IFCs) or to develop into competitive IFCs. The focus of those efforts invariably has been on opening the domestic financial markets to international financial flows and foreign financial institutions as well as on reforming the financial systems and institutions in order to ¡®modernize¡¯ them towards the Anglo-Saxon models which seemed to be flourishing in New York and London. The U.S. subprime mortgage crisis which has now developed into a full-blown global financial crisis seems to be forcing an overhaul of those ¡®Western¡¯ models for better transparency, better regulation and better accountability, and eventually, for enhancement of risk management.
The demise of the Anglo-Saxon financial system is forcing the respective Asian financial centers to pause to reconsider their aspirations as well as strategies toward them including those for financial reforms. With this as background, our two organizations will hold a conference as shown here for a high-level discussion with some of the best available experts on the implications and lessons from the ongoing financial crisis and the consequent unraveling of the Western financial model for the financial modernization policies and the international financial center drives in the Asia-Pacific economies, focusing on the questions of (1) how the Asian economies individually and collectively should react to the upheaval of the Western financial system; (2) more specifically, in what respects their policies and programs, including those for the IFC competition should be adjusted; and (3) what the implications for regional cooperation are. It is expected that the Korean situation will serve as the main reference case. The conference will also mark the release of KOPEC¡¯s report on an international research project on the theme of the IFC competition in the region it has just now concluded.
We believe that this conference will serve to help the relevant policy authorities, finance businessmen and academics, as well as opinion-leaders and politicians, better understand the relevant dimensions of the on-going global financial upheaval and draw from this correct implications for Asia, and especially, for Korea. We cordially invite you to attend this conference and participate in the discussion which we are sure will be highly informative and interesting.
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