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Comprehensive Measures on Household Debt

    Comprehensive Measures on Household Debt

    June 29, 2011
  • The government has responded to household debt problems with a series of policy measures in order to enhance the soundness of household debt and financial institutions and at the same time to ensure low-income households’ access to loans.

    *Please read the attached file for details.


  

Revision of Loan-loss Reserve Requirements on Credit Card Assets

    Revision of Loan-loss Reserve Requirements on Credit Card Assets

    June 15, 2011
  • The FSC has agreed upon the revision of the Regulation on Supervision of Specialized Credit Financial Business and the Regulation on Supervision of Banking Business on loan-loss reserve requirements on credit card assets.

    *Please read the attached file for details.


  

Progress Report on the Private Equity Funds Market in Korea

    Progress Report on the Private Equity Funds Market in Korea

    June 08, 2011
  • Private Equity Funds (PEFs)* were introduced to Korea’s capital markets with the amendments to the Indirect Investment Asset Management Business Act (integrated into Financial Investment Services & Capital Markets Act in 2007) on December 6, 2004 in order to promote corporate restructuring, M&As and to diversify investment instruments.

    *Please read the attached file for details.


  

Tougher Regulations to Prevent Excessive Competition among Credit Card Companies

    Tougher Regulations to Prevent Excessive Competition among Credit Card Companies

    June 07, 2011
  • The Financial Services Commission and the Financial Supervisory Service have unveiled tougher regulations to pre-empt possible problems caused by excessive competition among credit card companies (including banks with credit card units) in pursuit of external growth such as excessive credit card issuance and card lending.

    *Please read the attached file for details.


  

Additional Measures to Improve the Soundness of ELW Market

    Additional Measures to Improve the Soundness of ELW Market

    05 27, 2011
  • As Korea’s ELW market has rapidly grown in a short period of time, problems such as overheated investment and soaring investment losses have surfaced; therefore, the FSC introduced some measures (e.g., introduction of mandatory investor orientation course, stricter assessment of LP performance and preventive measures against potential unfair trading practices) in November 2010 to create a sound market environment for ELW trading.

    *Please read the attached file for details.


  

Korea to Chair FSB T/F on EMDE Issues

    Korea to Chair FSB T/F on EMDE Issues

    05 19, 2011
  • The G20 leaders at the Seoul Summit held in November 2010 agreed to put financial regulatory reform issues viewed from the perspectives of emerging countries on G20 agenda ,and asked the FSB, IMF and World Bank to submit a progress report prior to G20 Cannes Summit in November 2011.

    *Please read the attached file for details.


  

Privatization Plan for Woori Finance Holdings

    Privatization Plan for Woori Finance Holdings

    05 17, 2011
  • The Public Funds Oversight Committee has held the 34th Meeting today and decided to re-initiate the sale of the Korea Deposit Insurance Corporation’s 56.97% stake in Woori Finance Holdings.

    *Please read the attached file for details.


  

Internal Rules on Corporate Governance in Banks

    Internal Rules on Corporate Governance in Banks

    05 17, 2011
  • Corporate governance in banks can have a significant impact on the interests of shareholders and customers; therefore, banks’ governance rules need to be made public.

    *Please read the attached file for details.


  

Project Financing Stabilization Bank

    Project Financing Stabilization Bank

    05 02, 2011
  • The main purpose of creating the Project Financing Stabilization Bank (“the PFS Bank” hereafter) is to create an entity where all the project financing loans taken out on a project construction site can be pooled together and purchased by one bank, thereby simplifying the valuation and enabling the PFS Bank to take firm actions to restructure and stabilize the industry on an individual project basis.

    *Please read the attached file for details.


  

Measures to Enhance Low-income Households' Access to Financial Services

    Measures to Enhance Low-income Households' Access to Financial Services

    April 18, 2011
  • The FSC has announced a set of measures to lower financial costs of low-income earners and strengthen the financial safety net.

    *Please read the attached file for details.