The global economy is currently suffering from unprecedented financial turmoil. Boom-bust periods are becoming shorter and the so-called advanced nations of the West are being pinpointed as culprits of the crisis.

Yet amidst this financial nightmare, Asian markets continue to stand on their ground. In fact, it is no coincidence that Asia is rapidly emerging as the new financial leader of this world.

In an effort to envision the future of Asian financial markets at the precipice of historic change, the Asia Business Daily is convening the ‘Seoul Asia Financial Forum 2012’ (sponsored by The Ministry of Finance, Financial Services Commission, Bank of Korea, Asia Development Bank, and Korea Investment Corporation).

Convened on the theme of ‘Asian Finance, Driving Sound & Sustainable Growth’, this forum will be an opportune event for global scholars to diagnose the challenges and discuss the opportunities of the Asian financial markets.

Furthermore, the forum will also examine key issues such as the possibility of Chinese Yuan in becoming the next reserve currency and the impact of an aging population on Asian markets.

To this end, we would like to invite you to the ‘Seoul Asia Financial Forum 2012’ where various issues in promotion of sustainable economic growth, along with regional integration in Asian markets will be addressed.

Se-Jung Lee. CEO, The Asia Business Daily


Title Seoul Asian Financial Forum 2012 (SAFF)
Theme Asian Finance, Driving Sound & Sustainable Growth
Date Monday, June 4, 2012 09:00~17:00
Venue Grand Ballroom, The Westin Chosun Seoul
Host The Asia Business Daily
Partner Ministry of Strategy and Finance, Financial Services Commission, The Bank Of Korea,
Asian Development Bank(ADB), Korea Investment Corporation(KIC),


Time Program
08:30 ~ 09:00 Registration
09:00 ~ 09:30 Opening Remarks
- Opening Remarks : Se-Jung Lee CEO, The Asia Business Daily
- Welcome Address : Jaewan Bahk Minister of Strategy and Finance
09:30~11:30 Session1. Dynamic Asian Financial Markets; Opportunities & Challenges
[Moderator] Woo-Chan Kim Associate Professor of Finance, Korea University Business School
- William Pesek Asia-Pacific Columnist, Bloomberg View ( download )
- Srinivasa Madhur Director, Cambodia Development Resource Institute (CDRI)
- Michael Hellbeck COO & Head of Regulatory Affairs, Standard Chartered Bank Korea ( download )
- Sangche Lee Commissioner, Financial Services Commission ( download )
11:30 ~ 13:00 Luncheon
13:00 ~ 13:30 [Special Address] Seung-Yun Rah Co-CEO of Oratio, an English Consulting Firm (img)
13:30 ~ 15:00 Session2. Yuan to Become a Reserve Currency?
[Moderator] Changhong Pei Director, The Institute of Economics of Chinese Academy of Social Sciences ( download )
- Thomas Poon Head of Business Planning and Strategy Hong Kong, The Hongkong and Shanghai Banking Corporation Limited ( download )
- Deok Ryong Yoon Senior Research Fellow, Korea Institute for International Economic Policy (KIEP) ( download )
- William Pesek Asia-Pacific Columnist, Bloomberg View
15:00 ~ 15:10 Break
15:10 ~ 16:30 Session3. The Impact of an Aging Population on Asian Financial Markets
[Moderator] Dae-Sik Kim President, Korea Insurance Research Institute
- Nobuyoshi Yamori Professor, Graduate School of Economics, Nagoya University ( download )
- Hyun-Cha Choe Professor, Department of Consumer Science, Seoul National University ( download )
- Kai Chen Assistant Professor, School of Economics, Peking University ( download )
- Kwangwoo Park Associate Professor, Graduate School of Finance, KAIST ( download )
16:30 ~ 17:00 Wrap-up. Global Economic Trend & Reviving the Korean Economy
[Speech] Jeung-HyunYoon Former Minister of Strategy and Finance


Jaewan Bahk (Minister of Strategy and Finance)
  • [Career]
  • 2011~PresentMinister of Strategy and Finance
  • 2010~2011Minister of Employment and Labor
  • 2008~2010Senior Secretary to the President for State Affairs Planning
  • 2008Senior Secretary to the President for Political Affairs
  • 2007~2008Head, TF for Government Restructuring & Regulatory Reform,
    Presidential Transition Committee
  • 2006~2008Chief Secretary to the Chairman of Grand National Party
  • 2005~2006Chairman, External Relations Committee, Grand National Party
  • 2005Chairman, Economic Policy Coordination Committee, Grand National Party
  • 2004~2005Vice President of Yeouido Institute, Grand National Party
  • 2004~2008Member of the 17th National Assembly, Korea
  • 1996~PresentProfessor, Graduate School of Governance, Sungkyunkwan University
  • 1994~1996Office of the President, Korea Assistant Chief Secretary to the President
    for Policy Planning
  • 1992~1994Ministry of Finance, Korea Deputy Director
  • 1983~1992Board of Audit and Inspection, Korea Assistant Director
  • 1980~1983National Security Council, Korea Assistant Director
  • 1977~1978Korean Army
  • 1976~1977Samhwa General Trading Company, Seoul, Korea
  • [Education]
  • 1988.09~1992.06Ph.D. (Public Policy), Harvard University, GSAS, Cambridge, MA, U.S.A.
  • 1986.07~1988.06MPP, Harvard University, JFK School of Government, Cambridge, MA, U.S.A.
  • 1973.03~1977.02B.A. (Economics), Seoul National University, Seoul, Korea.
Seung-Yun Rah (Co-CEO of Oratio, an English consulting firm)
  • [Career]
  • 2003.10~PresentCo-CEO of Oratio, an English consulting firm
  • 2010.04~2011.07Communications Director of 2018 PyeongChang Winter Olympic & Paralympic
    Games Bid Committee
  • 2002Participated in 2002 FIFA Korea-Japan World Cup and 2010 Yeosu World
    Expo bidding campaign
  • 1996~2000.03News anchor, reporter and MC of 'Quiz Champion', Arirang TV
  • [Education]
  • French Language and Literature, Ewha Womans University
  • [Publications]
  • 'Rah Seungyun's Presentation'
Woo-Chan Kim (Associate Professor of Finance, Korea University Business School)
  • [Career]
  • 2012.03~PresentAssociate Professor of Finance, Korea University Business School, KOREA
  • 2010.09~PresentKorea Development Institute, KOREA Editorial Member of the KDI Journal
    of Economic Policy (in Korean)
  • 2011.06~PresentKorea Money and Finance Association, KOREA Editorial Member of the
    Journal of Money and Finance (in Korean)
  • 2009.03~PresentKorea Securities Association (KSA), KOREA Editorial Member of the
    KSA Journal (in Korean)
  • [Education]
  • 1999.06Harvard University, Cambridge, Ph.D. Ph.D. in Public Policy
    (focusing on international finance), GSAS
  • 1996.06Harvard University, Cambridge, MA Master of Public Policy (MPP),
    John F. Kennedy School of Government
  • 1991.02Seoul National University, Seoul, KOREA B.A. International Economics
William Pesek (Asia-Pacific columnist, Bloomberg View)
William Pesek is an Asia-Pacific columnist for Bloomberg View, based in Tokyo, providing opinions and commentary on economics, business, markets and politics throughout the region.
Pesek's columns routinely appear in the International Herald Tribune, Sydney Morning Herald, New York Post, The Straits Times, The Japan Times and many other publications around the globe. He writes a monthly column for Bloomberg Markets magazine and is regular on Bloomberg Television. He is most recently the winner of the Society of American Business Editors and Writer's (SABEW) 2010 Award for Commentary.
He's previously worked as a columnist for Barron's, the Dow Jones weekly magazine, in Washington, writing about global economics, politics, markets, the Federal Reserve, U.S. Treasury Department, International Monetary Fund and The World Bank. Before that, Pesek worked at Dow Jones Newswires in New York covering economics, companies and markets. There, he wrote the daily credit markets column for The Wall Street Journal for three years in the mid-1990s. Prior to that, he was a reporter at the American Banker and The Bond Buyers newspapers in New York.
He has a Bachelors degree in business journalism from Bernard M. Baruch College, City University of New York.
His work can be found at: http://www.bloomberg.com/view/bios/william-pesek/
He can be followed on Twitter at @williampesek
스리니바사 마드허
Srinivasa Madhur (Director, Cambodia Development Resource Institute (CDRI))
Srinivasa Madhur is at present Director of Research at the Cambodia Development Resource Institute (CDRI), Phnom Penh, Cambodia. He has worked for 16 years in several capacities at the Asian Development Bank (ADB), Manila, Philippines (1994-2010). The last position held by Mr. Madhur in ADB was as Senior Director of the Office of Regional Economic Integration. Before joining ADB in 1994, he worked as Economic Advisor to the Indian Government (1987-1994) and as a research economist at the National Institute of Public Finance and Policy, New Delhi, India (1978-1987). Other positions held by Mr. Madhur include member of the Economic Advisory Council to the Indian Prime Minister (1991-93), Visiting Professor at the Graduate School of International studies, Soul National University and as Visiting Fellow at the Korea Institute for International Economic Policy, Seoul, South Korea (2011). An economist by training, Mr. Madhur’s areas of specialization are international macroeconomics, macro-econometric modeling, and Asian economic development and integration. He has published widely on Asian development and regional integration issues. Mr. Madhur holds a PhD degree from Delhi School of Economics, New Delhi, India (1985) and was a Fulbright Fellow at the Department of Economics, Yale University, New Haven, U.S.A (1988).
마이클 헬벡
Michael Hellback (COO & Head of Regulatory Affairs, Standard Chartered Bank Korea)
Since August 2010, Michael Hellbeck holds the double-role as COO and Head of Regulatory Affairs for Standard Chartered Korea and Standard Chartered Bank Korea.

Since 2009, Mr Hellbeck has also been concurrently serving as the Chairman of the Foreign Global Bankers Group (FBG), an industry association representing the interests of global banks in Korea. In 2009, Mr Hellbeck was awarded honorary citizenship of the City of Seoul.

From 2005 till August 2010 Michael Hellbeck served as Branch Manager and Chief Operating Officer for Deutsche Bank Seoul Branch.
Prior to this position, Mr. Hellbeck worked for Deutsche Bank as Chief Country Officer and Head of Global Banking in Taiwan (2003-2005) and the Philippines (2001-2003) respectively.
From 1993 - 2001, Mr. Hellbeck was assigned to Deutsche Bank Seoul Branch as Head of Risk Management (1993-1997) and Head of Corporate Banking (1997-2001).
Mr. Hellbeck has 29 years of banking experience in the areas of risk management, corporate & institutional banking, internal controls, compliance and general management. He has worked in Asia since 1990 without interruption.

He is married with one daughter and enjoys hiking, classical music and wine.
Sangche Lee (Commissioner, Financial Services Commission)
In March 2011, Sangche Lee became a Commissioner of the Financial Services Commission of Korea.

Prior to the FSC appointment, he had worked as a Senior Fellow at the Korea Institute of Finance from 1999 after receiving his Ph.D. in Economics from Columbia University in New York in 1998.

During his tenure at the KIF, Dr. Lee served as Senior Advisor to Minister Jeung-Hyun Yoon of the Ministry of Strategy and Finance from February 2009 to March 2011. He was also Senior Counselor to the Chairman of the Financial Supervisory Commission (the predecessor to the FSC) from 2005 to 2007.

Dr. Lee also served on a number of government inquiries and advisory boards including Advisory Committee to the Board of Audit and Inspection, Government Funds Operation Assessment Task Force (Ministry of Planning and Budget), and National Informatization Evaluation Committee (Office for Government Policy Coordination).
Changhong Pei Director, The Institute of Economics, Chinese Academy of Social Sciences (CASS)
  • [Education]
  • 1994.10~1997.12Graduate of the Institute of International Economy and Trade in the
    University of International Business and Economics
  • 1978.10~1981.07 Graduate of Graduate School of Chinese Academy of Social Sciences,
    Master degree of Economics.
  • 1973.09~1976.07 Undergraduate of the Department of Economics in Xiamen University.
The research priority was to focus on international trade and investment, finance and service economics for a long period of time. More than 50 papers has been published in the domestic Journals and newspapers, for example of 《Chinese Social Sciences》、《Qiu Shi》、《People’s Daily》、《The Economic Research》、《China’s Industrial Economy》、《The Finance and Trade Economy》、《International Trade》since 2003. In the same time, some English papers have also been published in domestic English Journals, such as 《The Social Sciences of China》、《China and the World Economy》、《China’s Economist》. His major books are:《Foreign Capital Utilization and industrial competitive capacity 》、《The economic globalization and international trade in the recent times》、《China’s service industry and service trade》、《The tax rebate and china’s foreign trade》、《China’s FDI inflow: The situation and Challenges in the early times of 21 century》、《China’s Openness Outside and Reform of Circulation System for 30Years》、《The Foreign Trade of The Republic for 60 Years》、etc.
Thomas Poon (Head of Business Planning and Strategy Hong Kong
The Hong Kong and Shanghai Banking Corporation Limited )
Took up the position as Head of Business Planning and Strategy for HSBC in HK in November,
2010. A key aspect of the job is to strategise and promote the RMB business initiative in HK.
Prior to that, Thomas was a Director in Global Banking after his return from Shanghai.
Thomas had worked extensively on China-related business development in HSBC's then Area
Office China, initially based in HK from 1992 to 2002 and then in Shanghai from 2003 to 2005.
Thomas joined HSBC's graduate trainee program in 1985.
Deok Ryong Yoon (Senior Research Fellow, Korea Institute for International Economic Policy (KIEP))
  • [Education]
  • 1988Kiel University, B.A in Economics
  • 1993Kiel University, M.A in Economics
  • 1995Kiel University, Ph.D in Economics
Dae-Sik Kim (President, Korea Insurance Research Institute)
Dr. Daesik Kim is the President of the Korea Insurance Research Institute (KIRI), a leading think tank of Korean insurance and finance sectors.

He has served as a member of various advisory committees in both governmental and private sectors, including Financial Supervisory Services (FSS) Evaluation Committee, the Financial Institutions Coalition Arbitration Committee, Public Fund Management Committee and the Presidential Council of National Competitiveness to name a few. He also has served as a board member of numerous financial companies including KDB Financial Group, Shinhan Bank, and Korea Life Insurance Company. He is also a board member of Financial Investors Protection Foundation.

He received his MBA and Ph.D. in Finance at the Wharton School of the University of Pennsylvania. He has held a professorship at the School of Management, the State University of New York at Buffalo and before joining the KIRI, he was the professor of finance at Hanyang University. His research interests are financial institutions and markets and financial institutions management. He served as the President of the Korea Finance Association and the Korea Money and Finance Association.
야모리 노부요시
Nobuyoshi Yamori (Professor, Graduate School of Economics, Nagoya University)
  • [Current Position]
  • Professor, Graduate School of Economics, Nagoya University
  • Assistant Secretary of the President, Nagoya University
  • [Career]
  • 2005Invitation Professor, Osaka University
  • 2004~현재 Professor, Nagoya University
  • 1996~2004Associate Professor, Nagoya University
  • 1995~1996Assistant Professor, Nagoya University
  • 1994~1995Associate Professor, Himeji Dokkyo University
  • 1990~1994Assistant Professor, Himeji Dokkyo University
  • 1989~1990Research Associate, Himeji Dokkyo University
  • [Education]
  • 1996Nagoya University Ph.D. in Economics
  • 1988Kobe University MA in Economics
  • 1986Shiga University BA in Economics
Hyun-Cha Choe (Professor, Department of Consumer Science, Seoul National University)
  • [Academic Appointments]
  • 2007.04~Present Professor, Department of Consumer Science, Seoul National University
  • 2012.02~Present Dept. Head, Department of Consumer Science, Seoul National University
  • 2012.04~PresentCo-Chair, Translational Gerontology & Retirement Research Center,
    Seoul National University
  • [Professional Activities]
  • Vice-President, Korean Society of Consumer Studies.
  • Vice-President, Korean Academic Society of Financial Planning.
  • Editor, the Journal of Financial Consumer Studies
  • Board member, The Korea Money & Finance Association
  • Board member, The Korea Financial Information Association
  • [Education]
  • 1992Ph.D., Consumer Economics, Purdue University
    (Department of Consumer Sciences & Retailing)
    Dissertation: An Analysis of Consumer Demand for
    Credit in a Portfolio Context
  • 1986M.S., Family Economics, Seoul National University (Korea)
  • 1984B.S., Home Economics, Seoul Notional University (Korea)
Kai Chen (Assistant Professor, Peking University)
  • [Work Experience]
  • 2009.09~현재Assistant Professor, Peking University, Beijing, China
  • 2007.09~2009.09Assistant Professor, Robert Morris University, Moon Twp, PA
  • 2002.09~2003.09 Research Assistant, United Security Company Financial Laboratory,
    Peking University, China
  • 2001.07~2001.09Summer Intern, Ping An Insurance Company of China, Shenzhen, China
  • [Education]
  • 2003.09~2007.09University of Waterloo, School of Mathematics, Waterloo, ON,
    Canada Doctor of Philosophy in Actuarial Science,
  • 1998.09~2002.09 Peking University, School of Mathematical Sciences, Beijing, China B.S.
    in Financial Mathematics, 2002
Kwangwoo Park(Associate Professor, Graduate School of Finance, KAIST
Kwangwoo Park is Associate Professor of Finance and the Committee Chair for the Green Finance MBA Program at KAIST Graduate School of Finance & Accounting in Seoul, Korea. He received his PhD in finance from the University of Illinois at Urbana-Champaign and has Bachelor’s degree in Business from Yonsei University in Seoul. Prior to joining KAIST, Dr. Park has taught at Chung-Ang University in Seoul and at the University of Missouri-Columbia. His current areas of research interest include financial intermediation and international corporate governance. He has published a number of articles in major finance and economics journals including the Review of Financial Studies and the Journal of Banking and Finance among others. Dr. Park currently serves on the editorial board of the Asia Pacific Journal of Financial Studies which is the first journal listed in the Social Science Citation Index in the region. Dr. Park was also a research fellow for many leading institutions such as the Federal Reserve Bank of Chicago, the Bank of Korea (the central bank), and Korea Corporate Governance Service, and has been serving as a member of the advisory committees for the Korea Fair Trade Commission, Financial Service Commission, and the Office of the Prime Minister in Korea.
Yoon, Jeung-Hyun (Former Minister, Ministry of Strategy and Finance)
  • [Career]
  • 2011.12Yoon Economic Research Institute
  • 2009.01Minister of Strategy and Finance
  • 2008.09Council Member, National Economic Advisory Council
  • 2008.01Senior Advisor, Kim & Chang
  • 2007.12Member, 1st Economic Subcommittee, Presidential Transition Committee
  • 2004.08Chairman/Governor, FSC/FSS
  • 1999.06Executive Director, Asian Development Bank
  • 1998.03Dean, the National Tax College
  • 1997.01Deputy Minister, Financial Policy Bureau, MOFE
  • 1996.01Deputy Minister, Tax & Customs Office, MOFE
  • 1994.12Director-General, Financial Policy Bureau, MOFE
  • 1994.05Director-General, Finance Bureau, MOF
  • 1992.08Director-General, Securities Bureau, MOF
  • 1992.07Director-General, Tax and Customs Office, MOF
  • 1989.07Head of Task Force for the Real Name Financial Transactions Act
  • 1987.04Director, Financial Policy Division, MOF
  • 1986.05Director, Banking Division, MOF
  • 1983.08Director, International Finance Division, MOF
  • [Education]
  • 1986.05M.A. in Public Affairs, University of Wisconsin
  • 1969.02B.A. in Law, Seoul National University


Address 87, Sogong-dong, Jung-gu, Seoul, Korea
Tel 02-771-0500