Korea

A futures market would help boost liquidity in the existing K-ETS, which has allowed spot trading in carbon allowances since 2015, KRX said.

Banks are asked to strengthen loss absorption capacity, FX liquidity management, credit risk monitoring and bad debt provisioning.

The new government will establish a regulatory framework for ICOs and introduce rules to guard investors against hacks, system errors and unauthorised transactions.

The FSC will classify fractional investment products as securities on a case-by-case basis and require issuing firms to adopt investor protection measures.

President-elect Yoon Seok-yeol is planning to defer the tax to 2025 to allow time for the enactment of a new set of regulations designed to protect consumers.

The theft occurred in three separate withdrawals between 2012 and 2018. It went undetected despite 11 inspections and audits at Woori during the period.

The changes will allow retail investors to trade the KONEX market more freely and allow listed firms to more easily maintain their listing status.

Shinhan Card is directed to enhance its card issuance and fraud prevention systems, and compensate customers for losses.

Korean companies categorised as "large businesses" are placed under close monitoring and must disclose information on major intracompany dealings, board decisions and shareholders.

The approval marks the first time that a newcomer to the insurance industry has been given permission to start a digital insurance company.