The Colombo Stock Exchange (CSE) and Korea Exchange (KRX) announce 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 by KRX Chairman Jiwon Jung and CSE Chairman Ray Abeywardena in Seoul on November 20, 2017 in the presence of Manisha Gunasekara, the Sri Lankan Ambassador to South Korea.
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.
Speaking to mark the signing of the MoU, Jiwon Jung, Chairman at KRX said, “Under the spirit of today’s MoU, KRX will utilize its experience and technology in market development to closely collaborate with CSE in facilitating further capital market growth of both countries.”
Commenting on the MoU, CSE Chairman Ray Abeywardena said, “The MoU with KRX would assist in synergizing efforts on capital market development and business opportunities between the two countries.
“We are pleased to be working with KRX, which we believe strengthens our avenues for cooperation and mutual development with leading exchanges and capital markets.”
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.
With a population of approximately 50 million, a GDP of US$1.6 trillion and GDP per capita of $32,800, Korea is one of the largest and most prominent consumer markets in Asia.
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