Financial Services Commission (FSC) Vice Chairman Kim So-young promoted the Korean government’s efforts to improve market accessibility and regulations for global investors in an investor relations (IR) session in Hong Kong on Friday.
According to the FSC on Sunday, the vice chief of the country’s top financial regulator showcased the Korean government’s latest moves to advance the capital and foreign exchange markets for global investors during the IR session.
Titled “Invest in Korea: A dialogue with Republic of Korea Government,” the IR session on Friday at the Shangri-La Hotel in Hong Kong was attended by dozens of financial professionals and fund managers from over 20 global firms, such as Fidelity, Allianz, Capital Group, JP Morgan and Invesco, who are in charge of investments into Korea.
The vice chairman presented key policy changes that the Korean government has been pursuing since early this year in order to advance the structures of the local capital market to facilitate further foreign investment into the country.
The series of measures include the revocation of a decades-long foreign investor identification system, large corporations’ obligation to issue public disclosures in English from 2024, easier access to over-the-counter markets by foreign investors, improvements in listed companies’ dividend procedures, tax exemption for foreign investors’ investments in Korean government bonds, extension of foreign exchange market trading hours and increased protection for minor shareholders.
Kim vowed that the Korean government will make continued efforts to ensure global investors can fully recognize the improvement in the Korean investment system.
Later in the day, Kim also held a bilateral high-level discussion with Arthur Yuen, deputy chief executive from the Hong Kong Monetary Authority to discuss cooperation strategies for the development of the financial sectors between the two.
During the meeting, Yuen highlighted that Korea needs to assume its role as a “connecting point” that links Asia to the rest of the world, if the country aims to further grow as a financial hub. He also emphasized that a deepened cooperation in the area of fintech, exchanging fintech talent and fostering fintech businesses would benefit both parties.
Friday’s visit wrapped up the FSC vice chief’s week-long tour in Indonesia, Vietnam and Hong Kong to promote the Korean financial sector and its companies to the Southeast Asian market.
Source : TheKoreaTimes