The Korea Securities Depository (KSD) said it discussed ways to improve the reliability of its overseas stock investment services, including shorter settlement cycles, with senior executives from Citibank, a global investment bank.
According to the KSD on the 26th, Kwon Eui-jin, head of the depository's global division, held talks the previous day at its Busan headquarters with David Brown and Tom Lyden, co-heads of Citibank's financial institutions sales for Japan, North Asia and Australia. Citibank serves as a custodian of foreign securities across global markets, including the United States, and supports the KSD's foreign securities deposit and settlement operations.
The two organizations agreed to cooperate closely on issues such as integrating Citibank's internal operating systems and shortening settlement cycles, and to work together to strengthen Busan's standing as an international financial hub.
"We will continue to work with Citibank to provide safe and convenient foreign securities investment support and global financial services," a KSD official said.
