South Korea's top financial regulator on Tuesday stressed the need for robust global partnerships to prepare for the consequences of a new industrial revolution.
"The financial sector can't avoid the trend of the fourth industrial revolution either," Yim Jong-yong, chairman of the Financial Services Commission (FSC), said at a conference here.
Through financial reform, he added, the world should step up efforts to support the real economy and enhance the convenience of financial consumers.
Yim was speaking at the third Global Financial Cooperation Forum attended by around 40 senior officials from 14 countries including Cambodia, Indonesia and Bangladeshi.
The event opened with the theme of "Financial Innovation Within Reach."
Representatives from the World Bank and the European Commission as well as insurers' associations in Japan and Britain also joined the session co-hosted by the Council on International Financial Cooperation.
The FSC launched the annual forum in 2014 for the purpose of introducing the nation's financial reform measures and discussing ways for closer international cooperation. (Yonhap)
