Financial Authorities Crack Down on Violations of Short Selling Regulations by Asset Management Companies and Securities Firms, Imposes Fines and Penalties

[Business Post] Financial authorities impose fines and penalties on 11 asset management companies and securities firms for violating short selling regulations The Financial Services Commission disclosed on the 10th that fines and penalties have been imposed on 11 asset management companies and securities firms for their violations of short selling regulations. This measure was approved […]

Financial Authorities Consider Sanctions Against CEOs Involved in Calch and Optimus Incidents

Sanctions on CEOs of Securities Companies Involved in Calch and Optimus Incidents Under Scrutiny Financial authorities are closely examining the severity of sanctions that could be imposed on CEOs of securities companies implicated in the Calch and Optimus incidents. Industry experts assert that heavy penalties are inevitable due to the recent re-investigation of the Lime […]

Banks urged to play active role in export finance support by chairman of Financial Services Commission, Kim Joo-hyun

Kim Joo-hyun, chairman of the Financial Services Commission, has emphasized the crucial role that banks play in providing support for export financing. During the ‘Comprehensive Export Finance Support’ meeting on the 16th, Chairman Kim acknowledged the contribution of banks in stabilizing the market through significant financial support during the turbulent period at the end of […]

Saemaul Geumgo Chairman Faces Arrest for Bribery Charges

Park Cha-hoon, the chairman of the Saemaul Geumgo Central Committee, finds himself in troubled waters once again, just a month after the bank run. Facing allegations of bribery, Park Cha-hoon’s future hangs in the balance as Chief Judge Shin Hyun-il of the Seoul Eastern District Court prepares to interrogate him and determine whether an arrest […]

Government Announces Improvement Plan for Special Technology Listing System: Bio Industry Welcomes the Changes

Government Announces Plan to Improve Technology Special Listing System In response to the challenges faced by the current technology special listing system, the government has developed a comprehensive improvement plan. Officials within the domestic bio industry have expressed their general approval of this plan. On the 27th, the Financial Services Commission conducted a joint public-private […]

F4: Leading the Way to Overcoming Crisis Through Teamwork

Finance Chiefs Unite to Overcome Crisis as F4 Team In a powerful display of unity, Deputy Prime Minister of the Economy, Kyong-ho Choo, announced during the Pan-financial New Year meeting on January 3, 2023, that the four finance chiefs will join forces to tackle the ongoing crisis. This new team, dubbed F4 (Finance 4), includes […]

Youth Leap Account Subscription Opens Again, Offering Up to 50 Million Won

The application period for the ‘Youth Leap Account’ has reopened, allowing individuals to save up to 50 million won over a period of 5 years by depositing 700,000 won per month. According to the Financial Services Commission, applications for the account can be made monthly, with this month’s applications open to individuals of any age. […]

South Korean National Assembly Passes Act for the Protection of Consumers of Virtual Assets

Virtual Asset Consumer Protection Act Approved by National Assembly By Hwang Ji-hyun, Reporter The National Assembly’s plenary meeting on the 30th witnessed the successful passage of the ‘Act for the Protection of Consumers of Virtual Assets’. The bill, designed to regulate unfair trade in virtual assets and safeguard consumers, gained significant support with 265 votes […]

Amendment to Capital Market Act Strengthens Sanctions Against Unfair Trade in the Stock Market

Amendment Passed to Strengthen Sanctions against Unfair Trade in the Capital Market The National Assembly has passed an amendment to the Capital Market Business and Financial Investment Act (Capital Market Act) that aims to strengthen sanctions against unfair trade practices in the capital market, such as stock price manipulation. The amendment, which includes three main […]