The government is inviting investment management companies to help operate the Metaverse Fund, offering special performance incentives.
Banks will be required to disclose their interest rates based on their balance of lending and deposits, which will show the profitability of each bank.
The illicit crypto transactions were mostly aimed at purchasing foreign virtual assets with the intention of exploiting the so-called “Kimchi premium”.
The amendment introduces new rights for data subjects, such as the right to data portability, and the right to object to automated decision-making.
Regulators are considering allowing shareholders to vote on executive compensation, introducing clawback provisions, and granting new bank approvals, among other measures.
The FSS has asked at least three crypto exchanges for data related to crypto staking services.
Planned legislative changes will include crypto-related phishing scams under the existing law on telecommunications-based financial fraud.
The amendments aim to increase the flexibility of asset securitisation as a fundraising tool, while also improving transparency and risk management.
The FSS and FTC called on financial firms to prevent unfair contractual terms, pledging to ramp up oversight to better protect consumers.
The Ministry of Environment will fine companies up to KRW 3 million for misleading or false sustainability claims.
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