Nov. 2–6 ASEAN+3 Bond Market Forum

Hosted by ADB, organized by BNK and Busan Finance Center

Busan session to cover Arctic shipping routes, maritime decarbonization

The 47th ASEAN+3 Bond Market Forum opens Monday morning at the BNK Busan Bank Convention Hall. [Busan City]
The 47th ASEAN+3 Bond Market Forum opens Monday morning at the BNK Busan Bank Convention Hall. [Busan City]

The ASEAN+3 Bond Market Forum, a gathering to discuss key issues and cooperation in Asian financial markets, opened Monday at the BNK Busan Bank Convention Hall (BIFC II) in Busan and will run through Friday. The forum was established in 2010 to advance bond market development across ASEAN member states and South Korea, China and Japan.

Hosted by the Asian Development Bank and organized by BNK Financial Group and the Busan Finance Center, the event is co-sponsored by the Busan city government, the Ministry of Economy and Finance and the Busan Tourism Organization. About 150 participants — including officials from financial regulators, central banks, securities depositories, international organizations and financial institutions — will discuss the standardization and harmonization of cross-border bond transaction regimes, market practices and financial infrastructure under the theme "Building a Sustainable Blue City."

The five-day program links three concurrent forums: the 4th Digital Bond Market Forum, the 36th Cross-border Settlement Infrastructure Forum and the 47th ASEAN+3 Bond Market Forum. A Busan special session and an ASEAN+3 capacity-building seminar organized by the Ministry of Economy and Finance will also be held alongside the main forums.

The opening day's Busan special session focused on the role of finance in supporting a sustainable transition for the maritime industry and on avenues for international cooperation. Jeon Gi-hwan, a director at the Korea Ocean Business Corporation, delivered the keynote address on decarbonizing shipping through blue bonds and Busan's potential as a global maritime finance hub. Jeong Heon-jung, a director at Pan Star, An Yong-seong, an associate research fellow at the Korea Maritime Institute, and Seo Jong-seok, the Marine Stewardship Council's Korea representative, presented on the Arctic shipping route, maritime industry decarbonization, sustainable fisheries and blue finance.

Jo Yeong-dae, a director at the Busan Finance Center, Lee Yeong-jik, head of the Korea-ASEAN Financial Cooperation Center, and Moon Ho-jin, a deputy general manager at BNK Busan Bank, also spoke on the direction of Busan's maritime finance hub development, Korea-ASEAN financial cooperation and BNK Financial Group's maritime finance strategy.

The forums and seminars following the Busan special session will take up policy challenges surrounding the digital transformation of Asian bond markets and the expansion of sustainable finance. The joint session of the Digital Bond Market Forum and the Cross-border Settlement Infrastructure Forum will cover carbon markets, cross-border carbon trading, deposit tokens and digital bonds. The ASEAN+3 Bond Market Forum will share updates on regional capital market trends, cross-border payments and the outlook for sustainable finance. The Ministry of Economy and Finance-led ASEAN+3 capacity-building seminar will examine risk factors arising from financial digitalization and the impact of AI development on financial stability.

Busan Mayor Jeon Jae-soo said he was pleased that financial authorities and institutions from across Asia had gathered in Busan to discuss the future of bond markets and cooperation. "I hope this forum will serve as an opportunity to broaden connectivity in the region's financial markets and to give concrete shape to the financial cooperation that will underpin sustainable growth," Jeon said.


kaf2002@heraldcorp.com