South Korea’s central bank has joined standard-setting body Islamic Financial Services Board (IFSB).
Korea Exchange Inc. will launch a gold trading platform in an attempt to better regulate a market dominated by illegal transactions.
The Financial Supervisory Service chief vowed to remove regulatory hurdles for foreign financial firms operating in the country.
The Financial Services Commission said fixed-rate and amortising home loans must each account for 40% of banks' residential mortgage holdings by 2017.
The Financial Supervisory Service said it would seek to drastically ease regulatory restrictions on the country's financial sector to boost the industry.
The Financial Services Commission plans to launch a 20-year government bond futures market by 2015 to boost derivatives trading activity.
The country's financial industry watchdog plans an overhaul of anti-piracy polices to fight data breach.
South Korea's regulator plans to tighten futures and options trading rules to limit risks of severe price swings in the market.
Basel III capital regulations will be phased in to the South Korean domestic banks from December 1, 2013, as part of strengthened prudential regulations for banking sector which have been under discussion since the global financial crisis.
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