Korea

The FSC and FSS are considering restricting short-selling of listed companies based on market cap in a bid to level the playing field for retail investors.

New areas on the outskirts of Seoul have been designated speculative areas where the loan-to-value ratio on mortgage loans is being lowered to curb housing market overheating.

The policy plan includes support for 1,000+ innovative companies, a new business credit scoring system, a per-industry collective credit guarantee scheme, and the introduction of non-recourse factoring.

South Korea's FSC has announced new policy measures in five key areas to promote fintech and digital finance, and establish a stronger foundation for financial sector innovation.

The FSC is revising its guidelines on the supervision of financial conglomerates to enhance capital adequacy assessments, disclosure rules, and internal controls requirements.

Korea has a sound legal and institutional framework. Pakistan is asked to complete its action plan. Countermeasures against Iran are reinstated.

Under the proof of concept system now being developed, bond issuance, management, settlement and recordkeeping will be done using blockchain technology.

Investigators were dispatched to both firms to secure computer drives and documents linked to alleged misselling and fraud at both firms.

The policy tasks include measures to direct capital to SMEs and innovative startups, and promote inclusive finance, fintech and open banking.

The central bank is working on financial aid packages for the sectors directly affected by Covid-19, on top of the 1.9bn won package already announced by the government to aid SMEs and small merchants.