On 13 November 2024, Jacek Jastrzębski, Chair of the Polish Financial Supervision Authority (KNF) met with Kim Byoung Hwan, Chair of the Financial Services Commission of the Republic of Korea (FSC). 

The meeting was also attended by representatives of Poland Marcin Mikołajczyk (Deputy Chair of the KNF) and Damian Jaworski (Director of the International Cooperation Department at the KNF Office), and representatives of the Republic of Korea, including Lee Se-Hoon (First Senior Deputy Governor of the Financial Supervisory Service (FSS)). The purpose of the meeting was to sign a Memorandum of Understanding between the KNF, FSC and FSS for supervisory cooperation in the Polish and Korean banking sectors.

The participants discussed the issues addressed in the MoU regarding, for example, plans for the operation of Korean banks in the Polish market and the aspects of cooperation between the supervisors, in particular in the context of licensing procedures and the operation of Korean banks and their subsidiaries in the Polish market. 

It was the second meeting of representatives of the supervision authorities of the two countries. During the first meeting, which initiated the cooperation in March 2024, the Chair of the KNF and the Chair of the FSC decided to enter into the formal Memorandum of Understanding between the supervision authorities of the two countries.