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Revision to the Act on External Audit of Stock Companies

    Revision to the Act on External Audit of Stock Companies

    November 01, 2017
  • The latest revision, passed by the National Assembly on September 28, 2017, is the most far-reaching reform of Korea's accounting and audit practices. The revised bill will take effect November 1, 2018, one year after the date of its promulgation.

    * Please read the attached file for details.


  

Comprehensive Measures for Household Debt Management

    Comprehensive Measures for Household Debt Management

    October 24, 2017
  • The government announced a comprehensive scheme to manage household debt in an effort to reduce financial risks in the short term; and strengthen macroeconomic soundness, boost household income and repayment ability in the mid-to-long term.

    *Please read the attached file for details


  

FSC Tightens Mortgage Rules to Curb Speculative Demand in Housing Market

    FSC Tightens Mortgage Rules to Curb Speculative Demand in Housing Market

    August 02, 2017
  • The FSC will tighten loan-to-value(LTV) and debt-to-income(DTI) rules to curb speculative damnd in the housing market, as part of the government's effort to stabilize housing market prices.

    * Please read the attached file for details.


  

Korea's Second Internet-only Bank Open for Service

    Korea's Second Internet-only Bank Open for Service

    July 27, 2017
  • KakaoBank, Korea's second internet-only bank, officially launched for service on July 27 after twenty months of preparation since the FSC granted preliminary approval.

    *Please read the attached file for details.


  

FSC Chairman Announces Financial Policy Roadmap

    FSC Chairman Announces Financial Policy Roadmap

    July 26, 2017
  • FSC Chairman Choi Jongku had his first meeting with the press since taking office and announced financial policy direction under the Moon Jae-in administration.

    *Please read the attached file for details


  

FSC Identifies D-SIBs for 2018

    FSC Identifies D-SIBs for 2018

    June 28, 2017
  • The FSC identified on June 28, 2017, four bank holding companies and one bank as domestic systemically important banks (D-SIBs) for 2018.

    *Please read the attached file for details


  

FSC Held Market Monitoring Meeting on Results of MSCI 2017 Market Classification Review

    FSC Held Market Monitoring Meeting on Results of MSCI 2017 Market Classification Review

    June 21, 2017
  • FSC Vice Chairman Jeong Eun-bo held a meeting on June 21 with officials from relevant agencies to discuss the impact of the MSCI’s 2017 Market Classification Review and the government’s responses.

    * Please read the attached file for details.


  

Credit Card Merchant Fees To Be Lowered For More Small Merchants

    Credit Card Merchant Fees To Be Lowered For More Small Merchants

    June 14, 2017
  • The FSC proposed amendments to the Enforcement Decree of the Specialized Credit Financial Business Act to lower credit card merchant fees for small businesses with annual sales of KRW 500 million or less. * For further details, please read the attached file.

  

New Approach to Corporate Restructuring

    New Approach to Corporate Restructuring

    April 13, 2017
  • FSC Chairman had a meeting with CEOs of commercial banks on April 13 to set out a new approach to corporate restructuring.

    *Please read the attached file for details.


  

Korea's 1st Internet-only Bank Open for Service

    Korea's 1st Internet-only Bank Open for Service

    April 03, 2017
  • 'K bank', Korea's 1st internet-only bank is officially launched on April 3 for service.

    *Please read the attached file for details