On 19th September 2007 the Memorandum of Understanding (MOU) was signed between Bank of the Lao PDR (BOL) and Korean Exchange (KRX) in Seoul Capital, Republic of Korea. H.E Somsavat LENGSAVAD had appointed the Securities Market Establishment Committee (SMEC) on 22nd January 2008 in order to implement this project under the practical advice of Mr. Phouphet KHAMPHOUNVONG the Governor of Bank of the Lao PDR & Standing vice chairman of General Leading Committee.