Bank of Korea

Securities / Derivatives

Korea Extends Corporate Debt Purchase Programmes to March 2023

By Editors | 17/07/2022

Policy banks will have KRW 6 trillion until 30 March 2023 to buy up corporate bonds and commercial paper.

Enforcement

FSC Korea Penalises Shinhan Bank for Lime Fund Mis-selling

By Editors | 08/07/2022

Shinhan Bank is being suspended for three months from selling new private equity fund products and fined KRW 5.7 billion.

Crypto / Digital Assets

Korea: New FSC, FSS Chiefs to Prioritise Stability, Growth

By Mark Johnston | 20/06/2022

The FSS will be led by former prosecutor Lee Bok-hyun, while the FSC will be led by Kim Joo-hyun, who helped guide Korea through the 2008 crisis.

Enforcement

Korean Police Arrest CEO of Discovery Asset Management

By Editors | 13/06/2022

CEO Jang Ha-won faces charges of fraud and violation of the Capitals Market Act for selling funds which caused $194mn in losses to investors.

Crypto / Digital Assets

South Korea to Enact ‘Digital Assets Basic Act’ in 2023

By Editors | 17/05/2022

More banks will be able to offer services to crypto investors. The Bank of Korea Act will be revised to allow CBDC introduction.

AML / KYC

S. Korea Imposes Additional Sanctions Against Russia

By Editors | 08/03/2022

The government is also making available KRW 2 trillion in emergency lending support to Korean businesses impacted by the ongoing crisis in Ukraine.

Securities / Derivatives

BIS Launches Green Bond Fund Dedicated to APAC Region

By Editors | 28/02/2022

This is the third green bond fund launched by the BIS. It will help channel central bank reserves to green projects in the Asia and Pacific region.

Enforcement

Seoul Court Declares Lime Asset Management Bankrupt

By Editors | 23/02/2022

Investors lost an estimated KRW 1.7 trillion. Lime Asset Management has a reported KRW 520 billion in debt, compared to just KRW 19 billion in assets, which will be liquidated.

Market Infrastructure

Bank Indonesia Deepens Ties with BOK Under New MoU

By Editors | 20/02/2022

The collaboration will include areas such as cross-border payments, digital payments, and other areas related to settlement and market infrastructure.