Enforcement

Korean Courts Overturn Two FSC Penalty Decisions

03/09/2024

A KRW 669.1 million fine against Shinhan Investment Corp and a KRW 1 billion fine against Kepler Cheuvreux were overturned.

Sanctions

UK Imposes Sanctions on Iranians for ‘Destabilising’ Activities

03/09/2024

One entity and three individuals were sanctioned for supporting activities intended to the UK and other countries.

Indonesia, Korea Set to Implement Local Currency Framework

02/09/2024

14 Indonesian and 7 Korean banks have been appointed to handle transactions between the two countries using local currencies.

ESG / Sustainability

Taiwan Announces New Regulations Governing Carbon Fees

02/09/2024

Taiwan will launch a domestic carbon credit exchange platform in October; Carbon fee collection will commence in 2026.

Fintech / Regtech

KOFIA Introduces New Warning System for K-OTC Market

02/09/2024

The new system will warn investors when K-OTC stocks are exhibiting signs of market manipulation or abnormal price surges.

Sanctions

EU Asked to Impose Stronger Measures Against Sanctions Circumvention

02/09/2024

Josep Borrell also calls for stronger measures to prevent sanctions circumvention by EU companies, citing rising exports to “some states which are close to Russia”.

Sanctions

China Payments Becoming Increasingly Difficult for Russia

02/09/2024

Chinese banks are returning payments for goods already shipped; Chinese exporters asking for pre-payments; UAE banks rejecting payments for Russia-China trade.

China Issues New Rules on Management of Infrastructure Assets

02/09/2024

The rules prohibit municipal governments from “illegal and irregular borrowing” to support infrastructure assets that don’t generate revenue, and from increasing “hidden debts”.

Enforcement

China Extradites Crime Syndicate Ringleaders to South Korea

01/09/2024

The syndicate has been operating from China since 2017, using government impersonation scams to defraud almost 2,000 Koreans of $113mn.