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Corporate Restructuring Progress & Financial Sector’s Non-Performing Loans

    Corporate Restructuring Progress & Financial Sector’s Non-Performing Loans

    July 30, 2009
  • An economic policy meeting was convened by the President on July 30 discussing the current progress of corporate restructuring and plans to resolve non-performing loans in the financial sector. The following is a conclusion of those discussions in efforts to promote a smooth and preemptive restructuring for the corporate sector and improvements to facilitate its effectiveness.

    *Please read the attached file for details.


  

Privatization of Korea Development Bank

    Privatization of Korea Development Bank

    July 28, 2009
  • After four months of discussions, the Committee for the Establishment of Korea Public Banking Corporation (KPBC) formed by members from the FSC, MOSF, MKE, and professionals from the private sector has concluded on the following specific spin-off plan for KDB.

    *Please read the attached file for details.


  

Amendments to the Financial Holding Companies Act

    Amendments to the Financial Holding Companies Act

    July 22, 2009
  • The National Assembly has approved the amendments to the Financial Holding Companies Act to be enacted on October 10, 2009, resulting in the relaxation of a "non-financial business operator" (NFBO) from taking ownership of a bank holding company.

    *Please read the attached file for details.


  

SME Loans & Credit Guarantees in the First Half of 2009

    SME Loans & Credit Guarantees in the First Half of 2009

    July 17, 2009
  • Loans provided by the 18 domestic banks to small and medium-sized enterprises (SMEs) in the first half of 2009 increased by KRW 16.2 trillion from KRW 422.4 trillion to KRW438.6 trillion as of end-June.

    *Please read the attached file for details.


  

State of FX Margin Trading and Plans for Regulatory System Improvement

    State of FX Margin Trading and Plans for Regulatory System Improvement

    July 16, 2009
  • FX margin trading had gained considerable popularity from retail investors in such countries as Japan and the United States for its advantage of making it possible to invest in the fluctuating currencies of other countries with only a small deposit. But a rise in fraud cases and swindles, and heightened risk to investors caused regulations to be strengthened around related activities.

    *Please read the attached file for details.


  

Key Financial Policy Issues

    Key Financial Policy Issues

    July 15, 2009
  • This is a summary of the report submitted to the National Policy Committee at a special session of the National Assembly on the most current and pressing key issues in financial policies.

    Herein attached: Privatization of Korea Development Bank (KDB)

    *Please read the attached files for details.


  

  

  

  

Plans to Advance Financial Infrastructure of Funds Market

    Plans to Advance Financial Infrastructure of Funds Market

    July 10, 2009
  • Even as the funds market has continued growing in volume and quality, investors’ interest in funds are expected to rise further from a number of factors, such as an aging population.

    *Please read the attached file for details.


  

Countermeasures for Recent Cyber Attacks on Financial Companies

    Countermeasures for Recent Cyber Attacks on Financial Companies

    July 09, 2009
  • Recent cyber attacks from July 7 to 9 made on seven domestic banks briefly delayed or halted their personal internet banking services, but there were no illegal money transfers that took place and no confidential or private information leaked out during the attacks.

    *Please read the attached file for details.


  

Plans to Finance Green Growth Related Industries

    Plans to Finance Green Growth Related Industries

    July 06, 2009
  • The Korean government plans to promote investment in green growth related industries. The plan is aimed at creating funds fit for the industries and expanding sources of financing as a way to prevent potential bubble in the industries.

    *Please read the attached file for details.


  

FSB Inaugural Meeting in Basel

    FSB Inaugural Meeting in Basel

    June 29, 2009
  • The Financial Stability Board (FSB) held its inaugural meeting in Basel on 26-27 June, the first meeting since its re-establishment as the FSB with an expanded membership and a broadened mandate. The FSC Chairman, Dong-Soo Chin and the BOK Governor, Sung-Tae Lee attended the meeting as Korea’s official representatives.

    *Please read the attached file for details.