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Issuance of Financial Investor Express Card

    Issuance of Financial Investor Express Card

    March 31, 2010
  • The Financial Services Commission (FSC) held a meeting on March 24 to discuss and approve the issuance of Financial Investor Express Card (FIEx Card).

    *Please read the attached file for details.


  

Regulation on Banks' Loan-to-Deposit Ratios

    Regulation on Banks' Loan-to-Deposit Ratios

    March 26, 2010
  • In the 2010 Financial Policy Agenda announced in December 2009, the FSC unveiled its plans to adopt banks’ loan-to-deposit (LTD) ratio as one of its bank liquidity guidance ratios, which aims to encourage sound management of banks and alleviating factors driving the asset competition among banks.

    *Please read the attached file for details.


  

Amendments to FSCMA Passed at the National Assembly

    Amendments to FSCMA Passed at the National Assembly

    February 23, 2010
  • Amendments to the Financial Investment Services and Capital Markets Act (FSCMA) were passed at a general meeting of the National Assembly on February 18, 2010. The amendments were made based on six proposals submitted by legislators to address various issues raised since FSCMA came into effect in February 2009.

    *Please read the attached file for details.


  

SK Telecom Approved as a Major Shareholder of Hana Card

    SK Telecom Approved as a Major Shareholder of Hana Card

    February 10, 2010
  • The Financial Services Commission (FSC) held its 3rd regular executive meeting on February 10, 2009 and approved the acquisition of 49% of Hana Card shares by SK Telecom as a major shareholder.

    *Please read the attached file for details.


  

Plans to Build Trading Infrastructures for OTC Derivatives

    Plans to Build Trading Infrastructures for OTC Derivatives

    February 09, 2010
  • As the G20 leaders at the Pittsburg summit on September 9, 2009 reached a comprehensive and concrete agreement*to build trading infrastructures for over-the-counter (OTC) derivatives. In line with such effort, following plans have been devised for Korea’s OTC derivatives market.

    * Please read the attached file for details.


  

Domestic Banks’ Preliminary SBL Ratios

    Domestic Banks’ Preliminary SBL Ratios

    February 01, 2010
  • Since August 2009, Korea’s financial authorities have been encouraging domestic banks to lower their average SBL (substandard or below loans) target ratio to 1% by end-December 2009. As of end-December 2009, domestic banks’ SBL ratios averaged 0.99% to meet their target ratios, excluding the KRW3.0 trillion in debt obligations that arose in December from the unexpected workout of the Kumho Group affiliates and a number of shipbuilders*.

    *Please read the attached file for details.


  

Results of the 9th Public Funds Oversight Committee Meeting

    Results of the 9th Public Funds Oversight Committee Meeting

    January 28, 2010
  • The Public Funds Oversight Committee, co-chaired by Mr. Sang Ki Min and the FSC Chairman Dong-Soo Chin, held the 9th meeting on January 27, 2010. Reported by the Korea Depository Insurance Corporation (KDIC) and the Korea Asset Management Corporation (KAMCO), the committee has decided on the criteria to select advisory firms and the method of sale of minority stakes in Woori Finance Holdings Company.

    * Please read the attached file for details.


  

Risk Assessment of Banks' Mortgage Loans

    Risk Assessment of Banks' Mortgage Loans

    January 20, 2010
  • Household mortgage loans extended by banks totaled KRW 260.1 trillion at the end of September 2009, of which KRW 112.0 trillion (43.1%) are loans with lump-sum redemption contracts, and the remaining KRW 148.1 trillion (56.9%) are loans with redemption by installment contracts.

    *Please read the attached file for details.


  

Introduction of Foreign Investor Express Card

    Introduction of Foreign Investor Express Card

    January 13, 2010
  • The Financial Services Commission (FSC), the Ministry of Justice and the Fn Hub Korea (the Center) of the Financial Supervisory Service have agreed to issue the "Financial Investor Express Card" with an aim to increase the number of foreign executives of foreign financial institutions eligible for fast-track immigration lanes.

    *Please read the attached file for details.


  

Progress on Improving Banks' Corporate Governance

    Progress on Improving Banks' Corporate Governance

    January 11, 2010
  • The global financial crisis has shed light on the importance of corporate governance in financial institutions. In particular, banks have been the major beneficiaries of government relief programs* such as government guarantee for bank deposits and foreign debts. However, as the OECD and the BCBS noted, banks’ board of directors often neglected their social responsibility by failing in risk management, pursuing short-term profits, and paying out excessive compensation.

    *Please read the attached file for details.