Financial Regulatory Forum

S.Korea sees no need for US-style reform of banks

February 3, 2010

FINANCIAL/KOREA-CAPITAL    SEOUL, Feb 3 (Reuters) – It is not desirable for South Korea to adopt U.S.-style banking reforms because the local industry and markets are still small and in the developing stage, the head of the top financial regulator said on Wednesday. (more…)

S.Korea says to guide banks to retain more profits

December 10, 2009

    SEOUL, Dec 10 (Reuters) – The South Korean government will guide local banks to retain more profits next year, instead of paying dividends to shareholders, to help bolster their capital. (more…)

S.Korea bank supervision law clears hurdle; regulator upset

December 7, 2009

    SEOUL, Dec 7 (Reuters) – A bill to hand South Korea’s central bank a role in supervising banks cleared a big hurdle on Monday, earning immediate rebuke from the top financial regulator. (more…)

South Korea to push for naked short selling of bonds

By Reuters Staff
November 20, 2009

By Cheon Jong-woo and Seo Eun-kyung
SEOUL, Nov 20 (Reuters) – A top South Korean regulator said on Friday the authorities would take steps to encourage local and foreign banks to use naked short selling of bonds, a move analysts said could trigger a flood of foreign buying.

S.Korea restricts trading in FX forwards

November 19, 2009

   By Seo Eun-kyung and Cheon Jong-woo
   SEOUL, Nov 19 (Reuters) – South Korea announced measures on Thursday aimed at tightening control over foreign exchange liquidity to make the banking system (more…)

S.Korea considering steps to boost bank liquidity

By Reuters Staff
November 11, 2009

SEOUL, Nov 11 (Reuters) – South Korea is looking at measures to enhance foreign currency liquidity at banks, a top regulator said on Wednesday, which reportedly may require them to hold U.S. Treasuries as a portion of their foreign assets.
(more…)

S.Korea mulls controls on foreign banks’ forex liquidity

October 16, 2009

SEOUL, Oct 16 (Reuters) – The South Korean government is considering controlling foreign currency liquidity at branches of foreign banks in the country to cope with potential financial market crises, a senior finance ministry official said.

S.Korea president: world economic crisis not over

October 13, 2009

South Korean President Lee Myung-bak    SEOUL, Oct 13 (Reuters) – South Korean President Lee Myung-bak said on Tuesday it was premature for the country to end its crisis management status, saying the world economy was not out of the woods yet. (more…)

S.Korea to restrict FX borrowing, excessive hedging

September 25, 2009

A South Korean bank clerk shows new 5,000-won ($4.93) bank notes at the headquarters of Woori Bank in Seoul January 2, 2006. The Bank of Korea begun to distribute on Monday the new 5,000-won bank notes, the second-highest denomination in the country's currency, which is aimed to prevent counterfeiting and forgery attempts for public use, local media reported. REUTERS/Kim Kyung-Hoon    Sept 25 (Reuters) – South Korea is discussing measures to crack down on excessive foreign-currency borrowing by banks, Chin Dong-soo, chairman of the Financial Services Commission, said.
   The timing of the proposed measures may be flexible, depending on decisions on global standards by the Financial Stability Board, the G20′s regulation coordination arm, he said. (more…)

S.Korea to take action on abnormal capital moves

September 7, 2009

KOREA    SEOUL, Sept 7 (Reuters) – South Korea will take aggressive actions if there are any abnormal movements in capital, its top financial regulator said on Monday, amid growing concerns about adverse effects from abundant short-term liquidity. (more…)