On Wednesday, September 20th, 2012, A Memorandum of Understanding (MoU) on mutual cooperation between PT. Indonesian Clearing and Guarantee Corporation (KPEI) with the Korea Securities Depository (KSD) was signed. The MoU was signed by Hasan Fawzi, President Director of KPEI and Kim Kyung Dong, Chairman & CEO of KSD. This MoU signing ceremony was held at Hotel InterContinental Resort, Bali, Indonesia, in conjunction with the the 16th Asia-Pacific Central Securities Depository Group General Meeting ("The 16th ACG General Meeting") in Bali. The purpose of this MoU between KPEI and KSD is to promote close cooperation, exchange of information and knowledge, and maintain a mutually beneficial relationship between the two institutions. The signing of this MoU is a renewal of the MoU which was previously signed by KPEI and KSD in 2005. This signing is to emphasize the strong relationship that still exists between the two institutions. Hasan Fawzi, Director of KPEI also expressed his hope that the signing of this MoU will be the basis for a mutually beneficial relationship between KPEI and KSD in the future. "This MoU is expected to create a solid foundation for a close and mutually beneficial relationship between KPEI and KSD. It opens opportunities for further cooperation and exchange of information and expertise between the two institutions. I also hope that this MoU is providing added value in developing the capital markets industry in both countries, "said Hasan Fawzi in his speech. In the same occasion, Mr. Kyung Dong Kim as Chairman & CEO of KSD said, "KPEI and KSD previously been exchanging information, experience and expertise in the form of training, visits, and discussions. With the signing of the MoU, the two institutions agreed to maintain close mutually beneficial relationship and in the future" Signing of MoU between KPEI and KSD was witnessed by Mr. Ngalim Sawega, Chairman of Bapepam-LK, Board of Directors and Commissioners of the Indonesia Stock Exchange, Indonesian Central Securities Depository (KSEI), Indonesian Clearing and Guarantee Corporation (KPEI) and delegates from Central Securities Depository (CSD), who attended "The 16th ACG General Meeting". The first day of 16th ACG General Meeting (20 September 2012) was attended by 86 delegates representing 29 institutions from 22 countries in the Asia-Pacific region and 46 guests consisting of Bapepam-LK, IDX, KPEI, KSEI and associations of Indonesian capital market.
