S. Korea gains membership in Financial Stability Forum

SEOUL, March 13 (Yonhap) -- South Korea has been included as a member of the
Financial Stability Forum (FSF), the organization said Friday, laying the
groundwork for its larger role in global efforts to tide over the ongoing
financial crisis.
The FSF was created by the Group of Seven industrialized countries and other key
financial players in February 1999 to promote stability in international
financial centers through enhanced information exchanges and greater cooperation
in financial supervision.
"We decided at our plenary meeting in London on March 11-12 to broaden its
membership and to invite as new members the group of 20 countries that are not
currently in the FSF," the organization said in a posting on its official
website.
"These are Argentina, Brazil, China, India, Indonesia, (South) Korea, Mexico,
Russia, Saudi Arabia, South Africa and Turkey. In addition, Spain and the
European Commission will also become FSF members," it added.
kokobj@yna.co.kr
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