
The Korean Federation of Community Credit Cooperatives, a leading mutual financial institution in South Korea, recently organized an international forum in partnership with the United Nations in Jeju to explore ways to enhance digital financial inclusion. The event brought together ministers from 15 UN member states, financial experts from Japan and Italy, and representatives from prominent tech companies like Google and GSMA. The forum focused on two main themes: expanding financial access and promoting sustainable local development. During the forum, Pier Luigi Sacco, an OECD advisor, delivered a keynote speech on "Financial Cooperatives, Community Development, and Financial Inclusion," setting the stage for discussions on successful initiatives from Korea, Japan, and Italy. Presentations by experts like Seoul National University professor Jeong Hyuk highlighted strategies to address challenges like regional depopulation, with insights shared by representatives from Japan Shinkin Central Bank and Italy's Federcasse on the contributions of cooperative banks to regional development. The conversation also delved into digital solutions for financial inclusion, with emphasis placed on collaboration between international organizations and grassroots efforts, as well as the role of technologies like mobile services, payment platforms, and frontier technologies in enhancing climate finance in vulnerable communities. KFCC Chair Kim In expressed optimism that the forum would spark cooperation and drive progress in digital financial inclusion and local development by fostering ongoing networking and exchanges among participating countries and stakeholders.