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Complementary Measures to Debt-to-Income Regulation

    Complementary Measures to Debt-to-Income Regulation

    August 17, 2012
  • There have been discussions on how to improve the current regulation on DTI ratios. The FSC gathered opinions from financial and construction industries and relevant experts to come up with complementary measures to the DTI regulation.

    *Please read the attached file for details.


  

Analysis of Korea's Househod Debt and Policy Response

    Analysis of Korea's Househod Debt and Policy Response

    July 19, 2012
  • Korea’s household debt has grown rapidly since the Asian financial crisis compared to the growth rate of Korea’s GDP and income, posing a potential risk to our economy. It has been also pointed out that Korea’s household debt is structurally vulnerable as household loans are mostly composed of floating-rate, lump-sum payment, and interest-only loans.

    *Please read the attached file for details.


  

Fn Hub Korea Shortens Immigration Process for Foreign Investors

    Fn Hub Korea Shortens Immigration Process for Foreign Investors

    July 09, 2012
  • Fn Hub Korea, a unit under the Financial Supervisory Service (FSS), and the Financial Services Commission (FSC) have implemented an improved finance investor express card system, effective July 2012 to ensure a shorter immigration process and streamlined procedures, thereby allowing convenient immigration entry privileges for foreign financial investors.

    *Please read the attached file for details.


  

New Scheme for Credit Card Merchant Fees

    New Scheme for Credit Card Merchant Fees

    July 04, 2012
  • In an effort to overhaul the fee structure, the FSC made revision to the Credit Finance Business Act in March 2012, providing the legal grounds for revising the credit card merchant fee scheme for the first time since 1978.

    *Please read the attached file for details.


  

Short Position Reporting Rules To Be Introduced

    Short Position Reporting Rules To Be Introduced

    June 27, 2012
  • The Financial Services Commission (FSC), Financial Supervisory Service (FSS) and Korea Exchange (KRX) are aiming to introduce a rule that will make it mandatory to file a report on short positions with regulators from August 30, 2012.

    *Please read the attached file for details.


  

Task Force Formed to Legislate the Covered Bond Act

    Task Force Formed to Legislate the Covered Bond Act

    June 21, 2012
  • The FSC formed a task force to legislate the Covered Bond Act which held the first meeting on June 21, 2012.

    *Please read the attached file for details.


  

  

FSC Plan in line with Principles for Financial Market Infrastructures Issued by IOSCO-CPSS

    FSC Plan in line with Principles for Financial Market Infrastructures Issued by IOSCO-CPSS

    June 19, 2012
  • The International Organization of Securities Commissions (IOSCO) and the Committee of Payment and Settlement System (CPSS) announced Principles for Financial Market Infrastructures (FMIs), new international standards for payment, clearing and settlement systems.

    *Please read the attached file for details.


  

FSC Chairman Visits Thailand and Hong Kong for Further Financial Regulatory Cooperation

    FSC Chairman Visits Thailand and Hong Kong for Further Financial Regulatory Cooperation

    June 14, 2012
  • The FSC Chairman Kim Seok-dong visited Thailand and Hong Kong from June 9 to June 13 to meet and sign MOUs with financial regulators for further cooperation.

    *Please read the attached file for details.


  

FSB Plenary Meeting in Hong Kong

    FSB Plenary Meeting in Hong Kong

    05 31, 2012
  • The FSC Vice Chairman Choo Kyungho attended the Financial Stability Board (FSB) plenary meeting held in Hong Kong from May 29 to May 30.

    *Please read the attached file for details.


  

Four Mutual Savings Banks Ordered to Suspend Operations

    Four Mutual Savings Banks Ordered to Suspend Operations

    05 07, 2012
  • In a provisional meeting held on May 6, 2012, the Financial Services Commission (FSC) ordered four mutual savings banks - Solomon, Korea, Mirae and Hanju - to halt operations for six months to improve their finances after determining them as “financial institutions in distress”.

    *Please read the attached file for details.