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  • 09 / 10 / 2008
  • Response to the September 10th Article in The Times ¡°South Korea heads for black September with won problems"

  • Response to The Times Article ¡°South Korea heads for black September with won problems" , September 10, 2008
  • pdf Response to TT article.pdf
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  • 08 / 25 / 2008
  • FSC¡¯S Policy Efforts for Financial System Advancement and Future Tasks

  • Since the establishment of FSC, instability in the external environment has aggravated due to the sub-prime mortgage related global stock market shock, global investment banks¡¯ fragility, anxiety of stagflation due to combined factors of increased oil price and economic recession. Internally, there have been difficulties in the construction and SME sectors due to the domestic recession. Under such challenging circumstances, FSC has not only provided support to stabilize the domestic financial market, but also to perform an essential role as a growth engine to drive the Korean economy. In particular, FSC is focusing on policies to further develop the financial industry, offer financial support to create a sharing society, and construct a global financial network, among others.
  • pdf 20080825FSC's policy effort.pdf
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  • 07 / 29 / 2008
  • FSC Releases Draft Amendment to the Act on External Audit of Stock Companies

  • The Financial Services Commission organized a joint private-public Task Force (from Apr. to June, 2008) composed of officials from the government/supervisory authority, business representatives and accounting experts to establish an advanced accounting system. The Task Force conducted a rigorous review of major issues relevant to Korea's accounting system and devised improvement measures. Based on the review and a public hearing held on June 4, the FSC drafted the Amendment to Act on the External Audit of Stock Companies and the Amendment to Certified Public Accountant Law.

    Opinions collected during the 20-day announcement period from July 29 to August 17 are to be reflected in the Amendments before submitting them to the upcoming regular National Assembly session after completing relevant procedures like deliberation by the Regulatory Reform Committee/the Ministry of Legislation and the vice ministerial-cabinet meeting. Announcement of the revised Enforcement Decree of the Act on External Audit of Stock Companies is scheduled in August.

  • pdf 20080729_EXTERNAL AUDIT OF STOCK COMPANIES.pdf
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