The signing ceremony of the Memorandum of Understanding (MOU) between Taiwan and South Korea hosted by the Taiwan Stock Exchange Corporation (the TWSE) was held in the Taipei 101 building this afternoon. Chairman Sherman Lin of the TWSE and Chairman Sohn, Byungdoo of the Korea Exchange (KRX), witnessed by Vice Chairperson Tsuey-Ling Hsiao of the Financial Supervisory Commission, Lee Eun-Ho, Representative of the Korean Mission in Taipei, and representatives of many peripheral securities units, signed the third Memorandum of Understanding between Taiwan and South Korea. In the future, the two exchanges will strengthen cooperation in ESG, joint index compilation and information business.

Vice Chairperson Hsiao said that the KRX, as one of the financial centers in Northeast Asia, has actively promoted the participation of small- and medium-sized enterprises in the capital market in recent years, and continues promoting the sustainable development of the capital market. Similarly, Taiwan’s Financial Supervisory Commission has placed emphasis on the innovation and sustainable development of the financial market in recent years by successively issuing measures such as the “Capital Market Blueprint, Corporate Governance 3.0 -- Sustainable Development Roadmap, Green Finance Action Plan 3.0” and the "Sustainable Development Guidemap for TWSE-/TPEx-Listed Companies," and cultivating peripheral units to strengthen international market cooperation to respond to global changes and increase Taiwan’s visibility. This MOU goal is to enhance the foundation for cooperation between Taiwan and South Korea in the capital market, and strengthen their bilateral relations, while concurrently enriching a closer partnership between the two economies.

Chairman Lin stressed that the capital market between Taiwan and South Korea has close exchanges and profound friendship. The TWSE signed the first Memorandum of Understanding with KRX in 2000, and the second in 2015. In recent years, the two parties have made significant progress in market expansion, joint index compilation, education and promotion, plus exchange and visits. Based on the past cooperation, the signing of the third Memorandum of Understanding sets out a new strategic direction for their future cooperation; it not only is an important step for the TWSE’s global positioning, but also augments worldwide awareness and recognition of Taiwan's securities market.

Chairman Sohn pointed out that the TWSE and KRX, as strategic partners, have been committed to delivering the highest value to markets in both countries. And this year’s MOU represents the acknowledgement of the immeasurable value in coordination. Two exchanges will strive to deliver clear benefits by creating an umbrella framework encompassing the new ESG & Data initiatives and ongoing index business effort. This MOU will boost our abilities to become a powerhouse of Asia by building global presence together and channeling greater capital in the region.

The purpose of the third Memorandum of Understanding is to strengthen the ESG cooperation between Taiwan and South Korea, joint index compilation and information business, and to the further exploration of potential areas of cooperation in the future. Both Taiwan and South Korea are important financial centers in Asia, and powerful economies in technology. This MOU signing will benefit the development of financial markets in both countries, provide investors with more diversified investment opportunities and options, and promote closer cooperation between the two economies. 

The TWSE and its partners in major global markets and regional exchanges have partaken in the fields of product, system and talent cultivation for a long time. In recent years, the TWSE has also been actively expanding business exchanges in the areas of sustainable finance and new industries. This is to strengthen an international connectivity of mutual benefit and assistance, actively meet the competition and challenges brought by geopolitical and economic situations, and design an even stronger future for Taiwan's capital market. Pressing forward, the TWSE is firmly committed to the development of Taiwan's securities market to advance the opportunities and achievements of the Taiwan capital market.

Source:Press Release - Taiwan Stock Exchange Corporation (twse.com.tw)