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- The Korea Deposit Insurance Corporation (KDIC) attended the IADI (International Association of Deposit
Insurers)’s 9th Annual Meeting, which took place in Tokyo, Japan from October 24 (Sunday) to October 28
(Thursday). Mr. Won-Tae Yi, Executive Vice President of the KDIC, was elected to the Executive Council on
October 28 (Thursday), further solidifying the KDIC's position within the IADI.
Moreover, the KDIC expressed its wishes to host the 2013 Asia-Pacific Regional Committee meeting based on
past experiences in successfully hosting various international conferences, which received favorable
responses from the attendees. During the Annual Meeting, the KDIC also held bilateral talks with other deposit
insurers. The topics discussed at these talks include providing assistance to Tanzania to establish an
independent deposit insurer and conducting staff exchange programs with deposit insurers in Japan and
Turkey in 2011. In addition, the KDIC gave a presentation on the topic of “Regulation and Resolution of
Financial Conglomerates," explaining the discussions at the G20 and Korea's experiences related to this topic.
-Main Results-
1. Election to the Executive Council
The Executive Council acts in all matters to ensure the sound functioning of the business and affairs of the
Association. At this election, 20 countries applied for 16 available seats. The election of Vice President Won-
Tae Yi will be an opportunity to enhance the KDIC's status within the IADI.
2. Hosting the 2013 IADI APRC Meeting
Mr. Yi Won-tae put forward the KDIC's bid to host the 2013 IADI Asia-Pacific Regional Committee meeting
based on its experiences in successfully organizing international conferences, which received favorable
responses from attendees.
3. Bilateral Meetings with Tanzanian, Japanese and Turkish Representatives
The Vice President met with a Tanzanian representative and promised support at the organizational level in
response to his request to provide consultation to the Tanzanian central bank so that it can establish an
independent deposit insurer. In addition, the KDIC agreed with the DICJ (Japan) and SDIF(Turkey) to have staff
exchange programs in 2011 to share know-how in deposit insurance systems.
4. Presentation on the “Regulation and Resolution of Financial Conglomerates”
The KDIC participated in a meeting hosted by the DICJ on October 28 (Thur.), entitled "Financial Safety-Nets:
Going Forward". At the meeting, the lessons from the recent financial crisis, DIS' response to the crisis and
exit strategies were discussed in detail. The KDIC's presentation with the title of "An End to Too-Big-To-Fail:
Regulation of Financial Conglomerates" focused on the discussions at the G20 regarding how to regulate
financial conglomerates like the AIG and Citi after the U.S.' bailout of those companies and Korea's case. The
presentation was met with much interest by the audience.
5. Country Promotion Booth
The KDIC displayed seven kinds of PR materials (e.g. English annual reports, brochures and customer
consultation manuals) at one of the country booths set up by the IADI and distributed USBs containing related
files. Having the booth helped to let the meeting attendees understand Korea's experience in overcoming
financial crises and the benefits of implementing an integrated deposit insurance system.
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