Press

Home>Press>Press Release

Search

Legislative Notice of Amendments to the Enforcement Decree of the Financial Investment Services and Capital Markets Act

    Legislative Notice of Amendments to the Enforcement Decree of the Financial Investment Services and Capital Markets Act

    October 16, 2009
  • In the interest of invigorating the M&A market and corporate restructuring, amendments to the Enforcement Decree of the Financial Investment Services and Capital Markets Act have been devised and are announced herein. Opinions on this matter will be received for the next 20 days after this legislation notice.

    *Please read the attached file for details.


  

Korea Gains Full Membership into the FATF

    Korea Gains Full Membership into the FATF

    October 14, 2009
  • Korea has been admitted as a full member into the Financial Action Task Force (FATF) during the FATF Plenary held in Paris from October 14 to 16, 2009.

    *Please read the attached file for details.


  

Amendments to the Enforcement Decrees of the Banking Act and the Financial Holding Companies Act Have Passed Through the Vice-Ministerial Meeting

    Amendments to the Enforcement Decrees of the Banking Act and the Financial Holding Companies Act Have Passed Through the Vice-Ministerial Meeting

    October 01, 2009
  • Following the Legislation Notice of Amendments to the Enforcement Decrees of the Banking Act and the Financial Holding Companies Act made on August 28 (original press release copied below), the amendments have been passed through the Vice-Ministerial Meeting and will be enacted on October 10, 2009 as planned after it is passed through the Cabinet Meeting on October 6.

    *Please read the attached file for details.


  

Expanded Microcredit for Low-Income Households

    Expanded Microcredit for Low-Income Households

    September 17, 2009
  • Following the 31st Emergency Economic Meeting, the government revealed its “Miso Credit Foundation” (previously named the Microfinance Foundation) plan to provide extensive support in microcredit loans to low-income households, which will be enforced in December.

    *Please read the attached file for details.


  

FSB Plenary Meeting Report

    FSB Plenary Meeting Report

    September 17, 2009
  • The FSC Chairman Chin Dong-Soo attended the 2nd FSB Plenary Meeting in Paris on September 15. The meeting deliberated and finalized on most subjects that will be on the report, “Improving Financial Regulation” scheduled to be submitted to the Pittsburg G20 Summit on September 24-25.

    *Please read the attached file for details.


  

Systemic Improvements in ELS Issuances & Operations

    Systemic Improvements in ELS Issuances & Operations

    September 11, 2009
  • The FSC/FSS has put forth the following preemptive measures to make systemic improvements in the ELS issuances and operations to prevent the possibility of stock price manipulation at the maturity for the intention of evading profit payment.

    *Please read the attached file for details.


  

Progress on Corporate Restructuring

    Progress on Corporate Restructuring

    September 04, 2009
  • A full-fledged corporate restructuring has been underway, which included contractual agreements with the nine conglomerates whose liquidity positions had earlier raised concerns.

    *Please read the attached file for details.


  

Legislation Notice of Amendments to the Enforcement Decrees of the Banking Act and the Financial Holding Companies Act

    Legislation Notice of Amendments to the Enforcement Decrees of the Banking Act and the Financial Holding Companies Act

    August 28, 2009
  • The Banking Act and the Financial Holding Companies Act were recently amended and will be enacted on October 10, 2009. Improvements were made to the restriction on shareholding of commercial banks and bank holding companies.

    *Please read the attached file for details.


  

FSC English Blog

    FSC English Blog

    August 19, 2009
  • The Financial Services Commission is officially launching its English blog http://fsckorea.wordpress.com today.

    Its purpose is to raise public awareness of the changes and progresses in multiple areas of Korea’s financial policies and to promote interactive policy communication with the public as well as with foreign investors and others who are interested in Korea’s financial policies.

    *Please read the attached file for details.


  

Facility Investment Fund

    Facility Investment Fund

    August 17, 2009
  • In a follow-up measure to the July 2 announcement on ‘Plans to Promote Corporate Investment’ released through the Ministry of Strategy and Finance, specific plans to promote facility investment in the corporate sector have been devised. In accordance with the original plan to inject KRW 5 trillion into establishing a Facility Investment Fund through state-owned Korea Development Bank (KDB) and Industrial Bank of Korea (IBK), an initial investment of KRW 2 trillion will be made.

    *Please read the attached file for details.