Financial Regulatory Sandbox Website OpensJuly 31, 2020

The FSC announced the opening of the financial regulatory sandbox website and renewal of the fintech information portal on July 31.* Please refer to the attached PDF for details.

Plans to Improve Rules on Structured ProductsJuly 30, 2020

The FSC announced its plans to improve rules on retail structured products on July 30, with an aim to strengthen securities firms’ preparedness for market volatility, to encourage reduction in the size of the issuance as well as diversified investment for hedge assets and to bolster investor protection measures.* Please refer to the attached PDF fo...

FSC Chairman Speaks about Innovation at Mapo Front 1 Opening CeremonyJuly 30, 2020

FSC Chairman Eun Sung-soo delivered congratulatory remarks at the opening ceremony of the Mapo Front 1, the government-backed start-up incubating facility on July 30.* Please refer to the attached PDF for details.

Government Announces Plans to Provide Targeted Support to 1,000 Innovative FirmsJuly 30, 2020

The government announced its plans to designate a thousand innovative firms over the next three years and provide targeted financial support at the 12th Meeting of the Central Economic Response Headquarters held on July 30.* Please refer to the attached PDF for details.

FSC Chairman Holds Meeting with Heads of State-backed Financial InstitutionsJuly 29, 2020

FSC Chairman Eun Sung-soo met with heads of state-backed financial institutions on July 29, and held talks on the essential role of policy banks in facilitating the government's new deal initiative and ensuring a seamless implementation of the COVID-19 emergency support programs.* Please refer to the attached PDF for details.

FSC Issues Administrative Guidance on Private Equity FundsJuly 28, 2020

The FSC announced administrative guidance on July 28, which is aimed at strengthening the supervisory role of private equity fund sellers and trustees against fund management companies and providing specific guidelines to facilitate more systematic and effective self-inspection of private equity funds.* Please refer to the attached PDF for details....

Vice Chairman Underscores Important Role of Finance for New Deal InitiativeJuly 28, 2020

Vice Chairman Sohn Byungdoo presided over the 14th financial risk assessment meeting on July 28 to review market conditions and monitor the progress in implementing the COVID-19 financial support.* Please refer to the attached PDF for details.

Government Approves Revised Rules to Promote Digital New Deal InitiativeJuly 28, 2020

The government approved the revisions to the enforcement decree of the Credit Information Use and Protection Act at a cabinet meeting on July 28, which marks the final legislative changes necessary for the promotion of a data-driven economy and digital new deal initiative.* Please refer to the attached PDF for details.

FSC Announces Plans to Promote Digital FinanceJuly 27, 2020

The FSC unveiled its plans to promote digital finance on July 24, focusing on improving regulations for the industry, ensuring strong protection for digital finance users, building foundations to facilitate large volumes of digital financial transactions and strengthening data security to ensure stability in the financial system.* Please refer to t...

FSC Announces Financial Policy Direction for Post-pandemic EraJuly 24, 2020

Vice Chairman Sohn Byungdoo presided over a meeting of the financial development review committee on July 24, and discussed the government's financial policy direction for the post-pandemic era.* Please refer to the attached PDF for details.