Korea Chamber of Commerce and Industry Chairman Park Yong-man held a press conference on Sept. 21 to criticize the government and the political community for their unilateral legislation.“The government and the ruling and opposition parties are pushing ahead with Monopoly Regulation and Fair Trade A
Three bills for corporate regulation will be submitted to the National Assembly late this month.The South Korean government is planning to submit amendments to the Monopoly Regulation and Fair Trade Act, the Commercial Act and the Financial Group Supervision Act to the National Assembly late this mo
Democratic Party of Korea lawmaker Kim Byung-wook tabled an amendment to the Financial Investment Services and Capital Markets Act for naked short selling prevention on Sept. 10.The amendment is to provide a legal basis so that stocks allowing short selling and the rest are distinguished by the Fina
The fifth Industry Development Forum took place in Seoul on Sept. 10. There, participants expressed concerns over potential adverse effects of the government’s and the ruling party’s Commercial Act amendment.The amendment is to separately elect at least one audit committee member as a director and l
An amendment to the enforcement decree of the Act on Reporting and Use of Certain Financial Transaction Information, which contains detailed provisions as to mandatory cryptocurrency business report to be introduced in March next year, is taking concrete shape. According to the amendment, the inform
The Korean Confederation of Trade Unions, 18 Democratic Party of Korea and Justice Party lawmakers and 10 civic organizations such as People’s Solidarity for Participatory Democracy and Lawyers for a Democratic Society held a press conference at the National Assembly on July 1, urging the prosecutio
The authors are analysts of NH Investment & Securities. They can be reached at dongyang.kim@nhqv.com and junsup@nhqv.com, respectively. – Ed. SEC needs backing of non-controlling shareholders to acquire Samsung Biologics stakeUpon the passage of the amendments to the Insurance Business Act, Samsung
The authors are analysts of NH Investment & Securities. They can be reached at dongyang.kim@nhqv.com and junsup@nhqv.com, respectively. – Ed. Sell Samsung Biologics shares to buy SEC stake?As mentioned earlier, market expectations for the passage of the new amendment to the Insurance Business Act ha
The authors are analysts of NH Investment & Securities. They can be reached at dongyang.kim@nhqv.com and junsup@nhqv.com, respectively. – Ed. If Samsung Life disposes of its SEC shares to comply with the amendment to the Insurance Business Act, two key issues for Samsung Life (and its shareholders)
The authors are analysts of NH Investment & Securities. They can be reached at dongyang.kim@nhqv.com and junsup@nhqv.com, respectively. – Ed. Amendment to Insurance Business Act proposed again at 21st National AssemblyAn amendment to the Insurance Business Act which is currently pending at the 21st
The authors are analysts of NH Investment & Securities. They can be reached at dongyang.kim@nhqv.com and junsup@nhqv.com, respectively. – Ed. If a proposed amendment to the Insurance Business Act is passed, there will be no escaping the compulsory disposal of SEC shares held by Samsung Life. Even if
Democratic Party of Korea lawmaker Jung Sung-ho has tabled an amendment to the Export-Import Bank of Korea Act so that the legal capital limit of the bank can be increased from 15 trillion won to 25 trillion won.The limit was increased from 150 billion won to 500 billion won in 1977 and then to one
Democratic Party of Korea lawmaker Park Yong-jin asked the Financial Services Commission on Aug. 24 to simulate the amount of dividends to go to Samsung Electronics shareholders when the Insurance Business Act amendment he tabled is passed.The lawmaker tabled the same amendment in both the previous
The South Korean government announced that a partial amendment to the Commercial Act, a full amendment to the Monopoly Regulation and Fair Trade Act and a legislative proposal for the Financial Group Supervision Act were approved at the cabinet meeting on Aug. 25. The government is anticipating that
The amendment to the Insurance Business Act tabled in June by Democratic Party of Korea lawmakers Park Yong-jin and Lee Yong-woo is scheduled to be discussed in the regular session of the National Assembly next month.At present, each South Korean insurance company’s subsidiary bond and stock holding
Google, which accounts for 90 percent of the South Korean app market together with Apple, is reportedly moving to receive 30 percent of all app-related payments as fees. Under the circumstances, content providers’ burden is predicted to explode.Google has reportedly decided to expand the fees from g
The author is an analyst of NH Investment & Securities. He can be reached at dongyang.kim@nhqv.com. -- Ed. To actively promote private investment, the government is planning to ease the principle of segregation of financial/industrial capital to enable holding companies to have limited CVC ownership
The ruling Democratic Party of Korea has tabled an amendment to the Insurance Business Act to compel Samsung Group’s insurance subsidiaries to sell their shares in Samsung Electronics. The Financial Services Commission (FSC) made an official announcement in favor of the amendment on July 30, causing
The introduction of a worker director system into the public sector is predicted to accelerate as an agreement on the issue is being reached between the labor community and the government in the Economic, Social & Labor Council.In a worker director system, an employee representative exercises voting
Democratic Party of Korea lawmaker Jeon Jae-soo tabled an amendment to the Financial Consumer Protection Act so that punitive damages to be paid by a financial product seller that incurred a consumer’s losses by mistake or on purpose can be up to three times the losses. According to the amendment, i