SEOUL, Jan. 12 (Korea Bizwire) – South Korea’s top financial regulator warned of greater financial market volatility on Tuesday, vowing to properly deal with it with a sense of alertness in order to ensure market stability. The local market has suffered a setback, facing a double whammy of China’s stock market rout amid concerns over [...]
SEOUL, Jan. 7 (Korea Bizwire) - South Korea’s top financial regulator on Thursday stressed the need for careful risk management to maintain financial stability in the face of resurfacing geopolitical risks and external uncertainties. Financial Services Commission (FSC) Chairman Yim Jong-yong made the remarks at a meeting held with officials from relevant government agencies and experts [...]
“Recent external factors, including a sharp fall in the Chinese stock market, Chinese yuan devaluation and a possible U.S. rate hike, dragged down the South Korean market. As the external shocks will continue to weigh on South Korea for a while, we have to make all-out efforts to alleviate the volatility of the local capital [...]
SEOUL, Apr. 16 (Korea Bizwire) — South Korea’s top financial regulator said Thursday that he will relax regulations on bank ownership in order to pave the way for information technology firms to invest in the untouched Internet-only bank sector. Under the current laws, an industrial company is banned from holding more than a 4 percent [...]
SEOUL, Mar. 10 (Korea Bizwire) — The nominee for South Korea’s top financial regulator urged local financial firms on Tuesday to take stricter reform measures for what he describes a “second take-off,” and vowed heightened risk management on ballooning household debts. “The financial industry is facing rapid environment changes, such as a low interest rate [...]