Memorandum of Understanding between Central Depositories of South Korea and Kyrgyzstan

The Central Depository of South Korea (KSD) and the Closed Joint-Stock Company “Central Depository” have signed a Memorandum of Understanding. This document symbolizes the beginning of a new stage in the relationship between the central depositories of the two countries and signifies a desire to strengthen cooperation and develop mutually beneficial relations.

Cooperation between depositories plays an important role in the modern financial world, ensuring stability and reliability of market operations. This collaboration not only contributes to the development of financial markets but also strengthens trust in the investment environment.

The interaction will be based on principles of mutual respect, trust, and support. The signing of this memorandum is just the beginning of a joint path aimed at establishing strong ties between the central depositories of Korea and Kyrgyzstan.

For the Closed Joint-Stock Company “Central Depository”, this is a significant event, as the Korean securities depository serves as a model for how to successfully conduct depository business. The experience of building a developed Central Depository in Korea is very valuable and important, as the Central Depository of the Kyrgyz Republic still has a path of improvement and development ahead.

Currently, as part of the implementation of the Action Plan of the Cabinet of Ministers of the Kyrgyz Republic to implement the Decree of the President of the Kyrgyz Republic “On measures for the further development of the stock market and exchange activities” dated November 15, 2022, No. 376, there is a priority task for the operation in the financial market of Kyrgyzstan of a modern and internationally oriented Central Securities Depository. In this regard, according to these documents, it is anticipated to activate the activities of the Closed Joint-Stock Company “Central Depository”, the state’s entry with a controlling stake, strengthening and increasing technical potential, expanding connections that will allow more effective cross-border securities transactions.