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    Margin Requirements for Non-centrally Cleared OTC Derivatives to be Postponed for One Year

    05 06, 2020
  • The FSC announced on May 4 a one-year postponement of the implementation of margin requirements for non-centrally cleared OTC derivative transactions to help ease compliance burdens on financial institutions amid the COVID-19 crisis.
    * Please refer to the attached PDF for details.


    FSC Selects Six SME-Specialized Investment Firms

    05 04, 2020
  • The FSC has designated six securities firms as financial investment companies specialized in investing in small and medium-sized enterprises (SMEs): eBest Investment & Securities, Eugene Investment & Securities, IBK Securities, Kiwoom Securities, Korea Asset Investment & Securities and SK Securities.

    * Please refer to the attached PDF for details.


    FSC To Work on Improvements To Financial Education Programs

    05 01, 2020
  • Vice Chairman Sohn Byungdoo presided over the first financial education council meeting on April 29, in which the council decided on the plans for improving financial education.

    * Please refer to the attached PDF for details.


    Revised Law Paves Way To Create Bailout Fund for Key Industries

    April 29, 2020
  • The revisions to the Korea Development Bank Act passed the National Assembly on April 29, establishing a legal foundation to launch a bailout fund to help key industries struggling from the COVID-19 pandemic.

    * Please refer to the attached PDF for details.


    Revised FSCMA To Enhance Autonomy and Accountablity of Financial Investment Businesses

    April 29, 2020
  • The revisions to the Financial Investment Services and Capital Markets Act passed the National Assembly on April 29, which change some of the major sales regulations into ex post regulations.

    * Please refer to the attached PDF for details.


    Foreign Currency Asset Limits Raised for Insurance Companies

    April 29, 2020
  • The revisions to the Insurance Business Act passed the National Assembly on April 29, which increase the cap on foreign currency assets for insurance businesses. The revisions will go into effect six months after promulgation.

    * Please refer to the attached PDF for details.


    Accounting Day Designated by Law To Commemorate Importance of Transparency in Accounting

    April 29, 2020
  • The amendment to the Act on External Audit of Stock Companies passed the National Assembly on April 29, which officially designates October 31 the accounting day for commemorating the value and importance of transparency and celebrating the work of accountants.

    * Please refer to the attached PDF for details.


    FSC Extends Guidelines on Supervision of Financial Conglomerates for Another Year

    April 29, 2020
  • The FSC approved the revisions to the best practice guidelines on the supervision of financial conglomerates on April 29 and decided to extend its implementation for another year.
    * Please refer to the attached PDF for details.


    Government Adopts Revised Rules to Facilitate Effective Delivery of Emergency Relief Payments

    April 28, 2020
  • The government approved a revision to the Enforcement Decree of the Electronic Financial Transactions Act during a cabinet meeting on April 28 to help facilitate a more effective and convenient way of delivering emergency relief payments to households.
    * Please refer to the attached PDF for details.


    Deferment of Principal Payment Available for Vulnerable Debtors

    April 27, 2020
  • The FSC announced on April 27 that deferment of principal payment will be available for vulnerable debtors who are unable to service debts due to diminished income caused by the COVID-19 pandemic.
    * Please refer to the attached PDF for details.