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Amended 5% Rule Takes Effect from February 1, 2020

    Amended 5% Rule Takes Effect from February 1, 2020

    January 21, 2020
  • The amended 5% rule will take effect from February 1, 2020 as a regulatory reform
    proposal to revise the Enforcement Decree of the Financial Investment Services and
    Capital Markets Act was approved at a Cabinet meeting on January 21, 2020.

    * Please refer to the attached PDF for details.


  

Government to Develop Safe and Secure Data Exchange Ecosystem in Financial Sector

    Government to Develop Safe and Secure Data Exchange Ecosystem in Financial Sector

    January 21, 2020
  • The kick-off meeting to develop a vibrant data exchange ecosystem in the financial industry was held on January 21, 2020.
    * Please refer to the attached PDF for details.


  

Government Prepares to Launch Asia Region Funds Passport in May

    Government Prepares to Launch Asia Region Funds Passport in May

    January 20, 2020
  • The government has revised the enforcement decree of the Financial Investment Services and Capital Markets Act and other relevant rules for the implementation of the Asia Region Funds Passport. The ARFP will be launched on May 27, 2020 after a 40-day of promulgation and screening of regulations.
    * Please refer to the attached PDF for details.


  

FSC to Work on Reforming Benchmark Interest Rates

    FSC to Work on Reforming Benchmark Interest Rates

    January 20, 2020
  • FSC Vice Chairman Sohn Byungdoo presided over a task force meeting on reforming benchmark interest rates on January 20, 2020.

    * Please refer to the attached PDF for details.


  

FSC Tightens Housing Loan Rules

    FSC Tightens Housing Loan Rules

    January 16, 2020
  • The FSC unveiled measures to tighten housing loan rules, which will take effect on January 20, 2020.
    * Please refer to the attached PDF for details.


  

FSC to Hold 2020 Korea Fintech Week

    FSC to Hold 2020 Korea Fintech Week

    January 15, 2020
  • The Financial Services Commission will hold the 2020 Korea Fintech Week from May 28 to 30, 2020 at Dongdaemoon Design Plaza (DDP), Seoul to promote fintech and innovation in the financial industry.

    * Please refer to the attached PDF for details.


  

Vice Chairman Attends FSB Steering Committee Meeting in Basel

    Vice Chairman Attends FSB Steering Committee Meeting in Basel

    January 14, 2020
  • FSC Vice Chairman Sohn Byungdoo attended the Financial Stability Board (FSB) steering committee meeting held on January 13, 2020 in Basel, Switzerland.

    * Please refer to the attached PDF for details.


  

Revised Credit Information Act Promotes Big Data and Information Security in Financial Sectors

    Revised Credit Information Act Promotes Big Data and Information Security in Financial Sectors

    January 09, 2020
  • The National Assembly passed the revision bill on the Credit Information Use and Protection Act on January 9, 2020. The revision bill provides a legal basis for the use of big data and the commercialization of new innovative services such as MyData businesses.

    * Please refer to the attached PDF for details.


  

Joint Response Unit on Financial Markets Holds First Meeting

    Joint Response Unit on Financial Markets Holds First Meeting

    January 09, 2020
  • FSC Vice Chairman Sohn Byungdoo presided over the first meeting of the joint response unit on financial markets on January 9, 2020 to assess the impact of the recent Middle East instability on domestic financial markets.

    * Please refer to the attached PDF for details.


  

Government Closely Monitoring Financial Market Volatility in wake of Middle East Instability

    Government Closely Monitoring Financial Market Volatility in wake of Middle East Instability

    January 08, 2020
  • The government set up a financial market monitoring system composed of the Financial Services Commission, the Financial Supervisory Service and the Korea Center for International Finance on January 6, and has been closely monitoring market volatility in the wake of the recent instability in the Middle East.

    * Please refer to the attached PDF for details.