From left: David Brown, co-head of Citibank's Japan, North Asia and Australia financial institutions sales division; Kwon Eui-jin, head of the Korea Securities Depository's global division; and Tom Lydon, co-head of Citibank's Japan, North Asia and Australia financial institutions sales division. [Korea Securities Depository]
From left: David Brown, co-head of Citibank's Japan, North Asia and Australia financial institutions sales division; Kwon Eui-jin, head of the Korea Securities Depository's global division; and Tom Lydon, co-head of Citibank's Japan, North Asia and Australia financial institutions sales division. [Korea Securities Depository]

The Korea Securities Depository met with Citibank N.A. — a global custodian covering markets including the United States — at its Busan headquarters on Tuesday to discuss key issues facing both institutions.

Kwon Eui-jin, head of the depository's global division, held working-level talks with David Brown and Tom Lydon, co-heads of Citibank's Japan, North Asia and Australia financial institutions sales division, who traveled from Hong Kong for the meeting.

The talks reflect the growing importance of safe custody and settlement of foreign-currency securities as Korean retail investors continue to expand their overseas stock holdings, with both sides agreeing to strengthen cooperation with global financial institutions.

The Korea Securities Depository expressed gratitude to Citibank for its longstanding partnership in supporting Korean investors' foreign securities transactions efficiently and reliably.

The two institutions agreed to work together to help establish Busan as an international financial center. The depository also urged Citibank to proactively address market changes — including internal system integration and the shortening of settlement cycles — to ensure stable, uninterrupted service.


kacew@heraldcorp.com