The Council on International Financial Cooperation (CIFC) was established in 2013 to provide a foundation for major public and private financial institutions and financial associations to effectively carry out overseas financial cooperation businesses and strengthen their global competitiveness. Since then, it has been conducting knowledge exchange initiatives and various cooperation projects with financial experts from global financial companies, financial authorities and international organizations across 52 countries around the world. By doing so, CIFC is continuing to reinforce its preeminence as a council dedicated to deepening global financial cooperation.
The council’s remarkable growth over the years was only possible thanks to the 25 members and their continued interest and support.
All the members have experienced Korea’s stellar economic development and have accumulated know-how on the role of financial support for the real economy. The members have since tapped into this know-how to provide experience, knowledge and financial services to developing economies in need. Furthermore, the members are collectively and individually contributing to forming new trends in the financial space as part of the council.
In the midst of the recent pandemic, the digital transition of the financial environment was accelerated and the importance of financial cooperation through virtual mediums was highlighted more than ever. Under these circumstances, the council and its members strived to continue financial cooperation through virtual channels such as webinars and online meetings. Moreover, the council published online Newsletters and launched E-mail Service to make sure that financial cooperation was ongoing at home and abroad even amidst the pandemic situation.
With the unwavering support of our members and the Korean financial authorities, the council celebrates its 11th anniversary this year.
The council will continue to explore ways to enhance global financial cooperation and strive to become a global consultative body befitting the era of digital finance by preemptively adapting to the fast-changing environment.
Council on International Financial Cooperation