Foreign shareholders can own up to 25% of a virtual bank. A BOT waiver raises this to a 49% limit. Three licences will be granted next year.
January 13, 2023Top regulator Guo Shuqing said supervision of internet platform companies will normalise. Jack Ma has meanwhile ceded control of Ant Group.
January 10, 2023The revisions impose stronger corporate social responsibility obligations and require shareholders to make capital contributions if a company cannot repay its debts.
January 8, 2023Auto finance companies will be allowed to set up overseas subsidiaries to provide financial services to Chinese automakers pursuing international expansion.
January 8, 2023Banks and insurers must incorporate consumer protection mechanisms into their corporate governance, culture-building exercises, and business development strategies.
January 5, 2023The guidance focuses on corporate governance; internal control framework; risk management process; data aggregation and reporting; and scenario analysis.
December 27, 2022The Korea Sustainability Standards Board will participate in international discussions and develop a new ESG disclosure system to be used domestically.
December 20, 2022The evaluation indicators were revised to increase focus on areas such as major shareholders, party leadership, shareholder equity, related transactions, and director nomination.
December 6, 2022The KOSDAQ Global segment comprises 51 companies with a combined market cap of about KRW 78 trillion, which represents 23 percent of the KOSDAQ market.
November 30, 2022Different tactics are required across the region for institutional investors looking to hold corporates to account on net zero strategies.
November 29, 2022