Businesses dealing with virtual assets including cryptocurrencies must report their transactions to a government body and abide by anti-money laundering requirements, the Financial Services Commission (FSC) announced Tuesday.
The Bank of Korea released a statement Wednesday opposing an amendment to a law on electronic financial transactions pursued by the Financial Services Commission (FSC).
The Financial Services Commission (FSC) has pushed back the lifting of a ban on stock short selling to May 3, the second time after an earlier delay in September in removing the ban which had been imposed since March last year to...
After much debate between the country's financial regulators, lawmakers and retail investors, the Financial Services Commission (FSC) is extending restrictions on short selling until May 2 and allow short selling of 350 shares.
The minimum required capital for private equity funds will be raised from 100 million won ($89,400) to 300 million won, after a law was amended Tuesday.
Financial Services Commission Chairman Eun Sung-soo, far right, tours the SK hynix plant in Icheon, Gyeonggi, on Tuesday, along with the heads of state-run banks.
Short selling is returning to the stock market, but retail investors are riled up and the ruling Democratic Party (DP) is taking their side.
While the the government failed to unload its stake in Woori Financial Group this year due to the Covid-19 pandemic's impact on stock prices, it vows to do so by 2022.
Investors are pulling out their capital from stock funds due to their low profitability as well as quick returns from the volatile Kospi market.
The government is likely to extend a ban on short selling as the Korean economy is expected to take a hit following a recent spike in Covid-19 cases. The six-month ban on short selling went into effect in March and was supposed to end on Sept. 16.