Securities Rules Are Relaxed
Beginning next month, companies will no longer have to submit reports to financial authorities when they issue stocks or bonds worth less than 2 billion won ($1.5 million). Under current law, firms must make the report on any issuances of 1 billion won or more.The Ministry of Finance and Economy said Wednesday that it planned to revise the law by early July to make it easier for businesses to raise funds.
Also, under the proposed revision, the charge assessed by the Financial Supervisory Service on the total bonds a company issues in one year, now 0.09 of the total, will be cut to 0.04 percent.
with the Korea JoongAng Daily
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