FORUM OVERVIEW

The ASEAN-Korea Financial Cooperation Centre (AKFCC) was established in 2022 within the Mission of the Republic of Korea to ASEAN with the aim of strengthening cooperation between ASEAN and Korea in the financial sector. The Centre seeks to facilitate collaboration among financial institutions and government authorities, support the capacity building of ASEAN financial institutions, assist Korean companies, particularly micro, small, and medium-sized enterprises (MSMEs), in enhancing financial accessibility when engaging with ASEAN countries, and promote a deeper understanding of the region’s financial sectors.

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Building on the success of the inaugural ASEAN-ROK Financial Cooperation Forum, held in July 2024, which brought together policymakers, regulators, and industry leaders to exchange views on the role of financial institutions in advancing sustainable finance, the upcoming forum aims to further deepen financial cooperation between ASEAN and Korea. It will do so by sharing the latest developments in digital innovation within the financial sector and by identifying collaborative strategies to foster a more inclusive, resilient, and forward-looking financial ecosystem in the region.

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The 2025 Forum, to be held on 2 December 2025, is being organized in collaboration with key regional partners, including Indonesia’s Financial Services Authority (OJK) and the ASEAN+3 Macroeconomic Research Office (AMRO). This partnership underscores the commitment to promoting multilateral dialogue and coordinated action in addressing emerging opportunities and challenges within the region’s financial landscape.

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As a co-host, OJK will play a pivotal role in the Forum. The event will open with a welcome address by OJK Chairman Mahendra Siregar, who will highlight Indonesia’s leadership and commitment to strengthening financial cooperation and promoting innovation across the region.

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As ASEAN continues to develop its regional financial markets, the integration of digital technologies is profoundly transforming the financial landscape. The rise of fintech, digital banking, blockchain, and AI-driven services is reshaping financial ecosystems by enhancing accessibility, efficiency, and transparency.

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At the same time, the region faces significant challenges, including regulatory fragmentation, cybersecurity risks, gaps in digital financial literacy, and uneven infrastructure development among member states. Addressing these issues is essential to ensure that digital innovation contributes effectively to inclusive and sustainable growth.

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Against this backdrop, it is crucial to examine how ASEAN’s financial systems can evolve to embrace the next wave of digital transformation while maintaining financial stability and resilience. Equally important is the need to explore mechanisms for governing and scaling innovation across borders through strengthened cooperation among policymakers, regulators, and financial institutions.