KRX to help Nepal foster capital market

By Anil Giri

KATHMANDU, Nepal ― Korea Exchange (KRX) and the Nepal Stock Exchange (Nepse) have signed an agreement to develop a capital market in Kathmandu, Nepal.

Under the deal, the KRX will provide its advanced stock trading and information technology systems that run in line with international market standards.

Shanker Man Singh, general manager of the Nepse, and Park Jong-Kil, KRX president, signed the agreement on behalf of their respective organizations.

Park said the deal has paved the way for KRX to share its expertise with the Nepse in securities market management. “The MOU will provide us with an opportunity to share KRX’s experience regarding contribution in the Korean economy and especially in the area of promoting the investor’s well-being,” Park said.

KRX is primarily supposed to help Nepal’s stock exchange financially acquire and install new trading systems. The Nepse is all set to acquire new trading systems to boost the capital market that is going through challenging times at present.

“The agreement will help the Nepse implement measures to make the stock market more professional and promote investors’ welfare,” Shankar Man Singh said.

Kang Sang-ik, second secretary at the Embassy of the Republic of Korea in Kathmandu, said the pact would help strengthen the relationship between stock exchanges in both countries.

Lal Shankar Ghimire, an official at Nepal’s Finance Ministry, thanked the Korean government for supporting Nepal’s economic development.

Anil Giri is a contributing writer for The Korea Times.