CSE and Korea Exchange agree to pursue mutual development
The Colombo Stock Exchange (CSE) and Korea Exchange (KRX) this week announced the signing of a memorandum of understanding ( MoU) to establish a collaborative relationship focused on mutual development opportunities in the Sri Lankan and Korean capital markets. The MoU was signed in Seoul on Monday by KRX Chairman Jiwon Jung and CSE Chairman Ray Abeywardena.
In a development that is of particular interest to the Sri Lankan capital market, the MoU paves the way for collaboration between the CSE and KRX in the areas of new product development in equity and financial derivatives, new technology, business strategy and post- trade technology and systems, a media release from the CSE said.
Speaking at the event, Mr. Jung said: "Under the spirit of today's MoU, KRX will utilise its experience and technology in market development to closely collaborate with CSE in facilitating further capital mar- ket growth of both countries."
Commenting on the MoU, Mr. Abeywardena added: "The MoU with KRX would assist in synergising efforts on capital market development and business opportunities between the two countries."
KRX presently has over 2,000 listed securities and contributes to the development of the Korean economy by providing corporations with capital for growth, and offering individuals opportunities for wealth accumulation.