South Korea’s Financial Services Commission says South Korea will chair the emerging market task force team in the Financial Stability Board, (FSB).

The FSB was established to reform international regulations for financial stability.

The emerging market task force team will prepare agendas to reform financial regulations from the perspective of emerging economies before the November 2011 G20 summit in Cannes.

Senior official at the South Korean financial regulator Lee Sang-je, who will chair the TF team, says it will be an opportunity to raise South Korea’s international standing by serving as a bridge between developed nations and emerging markets in the G20 summit and the decision-making processes at the FSB.