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KFCC hosts UN conference for inclusive finance

Sept. 26, 2023 - 11:28 By Mun So-jeong
The Korean Federation of Community Credit Cooperatives hosted a regional workshop with UN Economic and Social Commission for Asia and the Pacific at the UN Conference Center in Bangkok, on Sept. 18. (The Korean Federation of Community Credit Cooperatives)

The Korean Federation of Community Credit Cooperatives, the nation’s leading mutual financial institution, said Tuesday it has successfully hosted a regional workshop in collaboration with the United Nations Economic and Social Commission for Asia and the Pacific last week.

Under the theme of digital inclusion and community development, the two-day event discussed the solutions to achieve Sustainable Development Goals -- a universal call to end poverty and inequality by the UN -- through digital technologies.

It also underscored further cooperation for the Asia-Pacific Information Superhighway, an intergovernmental platform aiming to bridge the digital divide, as an instrument to support the achievements of SDGs Digital.

With a total of 60 participants from 16 countries in the Asia-Pacific region in attendance, the workshop was held at the United Nations Conference Center in Bangkok, Thailand.

During the event, Sim Woo-jong, the director of the International Development Cooperation Team at KFCC, presented its global financial inclusion model for developing countries.

Since 2017, the cooperative has set up branches and promoted financial literacy in countries deprived of financial infrastructure, including Myanmar, Uganda and Laos.

Acknowledged for its official development assistance model contributing to economic growth, KFCC also received the Presidential Award on the 2021 Development Cooperation Day, which celebrates South Korea’s joining the Development Assistance Committee.

“Starting with the regional workshop, KFCC plans to further develop joint research and projects at a community level, under the strategic partnership with international organizations such as UN ESCAP,” said Sim.