The 4th UK-Korea Financial Cooperation Forum Held in SeoulNovember 14, 2017

The Korean Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) hosted the fourth UK-Korea Financial Forum in Seoul today with the UK Treasury, the Financial Conduct Agency (FCA) and the British Embassy. *please read the attached file for details

Revision to the Act on External Audit of Stock CompaniesNovember 1, 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 ManagementOctober 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.

Rules on Overheated Short Sale Issues to be AmendedAugust 24, 2017

The FSC and KRX announced a plan to amend regulations regarding overheated short sale issues, which came into force on March 27, 2017 in a bid to better detect overheated short sales and toughen penalties on violations of short-selling rules.

FSC Tightens Mortgage Rules to Curb Speculative Demand in Housing MarketAugust 2, 2017

FSC will tighten loan-to-value(LTV) and debt-to-income(DTI) rules to curb speculative demand in some bubble-prone areas, as part of the government's effort to stabilize housing prices. * Please read the attached file for details.

Korea's Second Internet-only Bank Open for ServiceJuly 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 RoadmapJuly 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.

FSC Identifies D-SIBs for 2018June 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 ReviewJune 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 MerchantsJune 21, 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. * Please read the attached file for details.