KDIC Entered into an MOU with Indonesia OJK for Cooperation on the Resolution of Failed Insurers 

□ On 7th December 2023, Dr. Jaehoon Yoo, the Chairman and President of the Korea Deposit Insurance Corporation (KDIC), signed an MOU with Mr. Ogi Prastomiyono, the Commissioner of the Otoritas Jasa Keuangan (OJK) to strengthen cooperation on resolution of failed insurers in Korea and Indonesia.
ㅇ This MOU started with the proposal made in September 2023 by Mr. Ogi Prastomiyono to share Korea’s knowledge and experiences on resolving failed insurers. The MOU provides basis for various types of cooperation, including but not limited to knowledge & information sharing on resolution of failed insurers, personnel exchange, and etc.
※ This is the first time that KDIC entered into an MOU with a foreign financial supervisory authority on technical assistance regarding resolution of failed insurers.
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