Komsco chairs minting conference

Korea’s state-run minting company served as the chair for this year’s Mint Directors Conference (MDC), a global group of minting institutions, held in Berlin from Feb. 1 to 3.

Korea Minting, Security Printing & ID Card Operating Corporation (Komsco) said it oversaw the MDC and the World Money Fair (WMF), both held in Berlin earlier this year, for the first time as the chair of the minting organization. The company was appointed to the position last year.

The company said this year’s meeting focused on discussions to develop a sustainable plan for the industry, which faces a growing threat from new financial technology and the diversification of payment methods.

At the conference, the minting company vowed to actively work with other foreign institutions.

“As the chair of the MDC, [we] will do our best to expand cooperation between member countries and come up with realistic measures to solve problems that the minting industry faces,” said Cho Yong-man, president of Komsco.

The company added that the appointment will raise the country’s profile in the industry.

MDC is a conference where 48 minting institutions from 44 countries discuss legal regulations, technology and management in the minting industry. The WMF is a global exhibition that hosts more than 300 coinage companies every year.

BY CHAE YUN-HWAN [chae.yunhwan@joongang.co.kr]