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- The Korea Deposit Insurance Corporation (KDIC) provided training to a working group from Mongolia
responsible for the implementation of a deposit insurance system in the country from November 29 (Monday) to
December 6 (Monday). The working group is made up of 11 officials from the Mongolian Treasury, central bank
and supervisory agency including the former Director of Economic and Financial Policies. Lectures were given
by KDIC staff, officials from the Financial Services Commission, accounting and legal experts at a conference
room on the 3rd floor of the KDIC building. In a total of 17 sessions, the training encompassed various topics
from theoretical background, system requirements and working knowledge needed for the launch and
implementation of a deposit insurance system. In addition, industrial tours to heavy industry and energy
operations, which are main interests of the Mongolian government, were arranged to enhance the trainees'
understanding of the Korean economy.
Late last year, the Mongolian government participated in the Korean government's Knowledge Sharing Program
(KSP) aimed at building partnerships with strategically important countries. The training was conducted in
response to the Mongolian government's request for policy consultations as they try to introduce a deposit
insurance system as a precondition for financial restructuring and financial system enhancement.
The KDIC views Korea's experience in financial restructuring and deposit insurance system as a unique
knowledge resource and is committed to sharing such experience with emerging nations in 2011. By setting an
example in exporting financial infrastructure, the KDIC will play a leading role in the government's project to
strengthen global leadership and partnerships with other countries.
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