BAKU, Azerbaijan, October 6. Agency of Kazakhstan for Regulation and Development of the Financial Market and South Korean financial company Hanwha Life discussed prospects for expanding the company's presence in Kazakhstan's financial market, the agency said on October 5.
Chairwoman of the Agency Madina Abylkassymova held a meeting with representatives of Hanwha Life, one of South Korea's leading financial companies and part of the Hanwha Group financial and industrial conglomerate.
The Korean delegation was led by Kang Bumdu, Managing Director and Head of Hanwha Life's representative office for the Middle East and North Africa.
The sides also discussed potential areas for long-term cooperation in financial technologies and digital financial instruments.
Representatives of Hanwha Life shared the company's experience in developing digital financial solutions, tokenization of financial instruments and the introduction of modern digital services.
"Attracting foreign financial organizations contributes to the development of competition, the introduction of modern technologies and improving the quality of financial services for the population and businesses," Abylkassymova said.
The sides also discussed further development of Kazakhstan's regulatory framework for digital financial assets.
Hanwha Group is one of South Korea's largest financial and industrial groups. Founded in 1952, the group operates in defense and aerospace, energy and shipbuilding, financial services, as well as technology and service sectors. Hanwha Corporation is the group's flagship company.
Abylkassymova also held a meeting with representatives of Presight AI, led by CEO Thomas Pramotedham.
The sides discussed the development of tokenization, the use of digital financial assets and modern technological solutions in the financial sector.
The development of these areas could expand investment instruments, improve the efficiency of financial operations and enhance risk management, according to the agency.
The meeting also highlighted that the introduction of digital innovations requires further development of the regulatory framework, greater transparency of operations and stronger protection of the rights of financial services consumers.
