Delegates of the Korea Accounting Standards Board (KASB, Chair: Eui-Hyung Kim) visited Vietnam’s Ministry of Finance on 18 April 2019 for a meeting to share with Vietnam Korea’s experience on IFRS adoption and implementation. This was part of the KASB’s project to assist Vietnam with adoption of IFRS.

In the meeting, Jongsoo Han, Advisor to the KASB and Professor at Ewha Womans University, spoke on the topic of ‘Korea’s experience of IFRS adoption and the lessons learned’ and exchanged views with members of the Ministry of Finance in Vietnam.

Jongsoo Han is an academic who has been actively participating in activities relating to IFRS adoption and implementation in Korea. He is a former KASB member and is currently Member of the IFRS Interpretations Committee.

This meeting was the fourth official bilateral meeting following the KASB’s visits to Vietnam in November 2016 and September 2018 and Vietnam’s Ministry of Finance’s visit to Korea in December 2017.

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About the KASB

The KASB is an independent private organization established on 1 September 1999 with the mission to set and revise accounting standards in Korea. The Board is committed to enhancing the quality of financial reporting by providing high quality accounting standards that are on a par with internationally accepted accounting standards. The KASB consists of 9 board members (2 of whom are full-time) who are professionals from the private sector.

About the KAI

The Korea Accounting Institute (KAI) was established as an umbrella organization of the KASB.