New Administration’s National Agenda on ICT and Fintech Industries
In this article, we introduce the goals and tasks of the Presidential Transition Committee relating to digital finance, digital economy, and the media, prior to the inauguration of the 20th administration in May 2022.
New Administration’s National Agenda on Insurance Industry and the Financial Authorities’ 2022 Business Plan
The presidential term of President Yoon Suk-yeol began on May 10, 2022. On May 3, 2022, prior to the start of Yoon’s administration, the Presidential Transition Committee announced 110 national agenda items (the “National Agenda”). President Yoon aims to minimize government intervention through multifaceted regulatory reforms—such as reforming the president’s direct oversight over “Regulatory Innovation …
Key Issues and Implications of the New Administration’s Environment Policies
On May 3, 2022, the 20th Presidential Transition Committee announced the national vision and six major goals of the Yoon Suk-yeol administration as well as 110 national agenda items (the “National Agenda”). President Yoon was inaugurated on May 10, 2022. In particular, the National Agenda contains detailed measures to implement the environment-related pledges of President …
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New Administration’s Corporate Law and Governance Policy and the Impact Thereof on Businesses
On May 10, President Yoon Suk-yeol took office as the 20th President of the Republic of Korea. In line with the new government’s corporate governance and capital market policies, relevant regulations are expected to change. Timely strategic responses from businesses will thus become more important.
Big Blur: Competition with Big Tech Causing Banks to Launch New Businesses, and New Administration’s Regulatory Response
The “Big Blur”, a reference to the growing ambiguity between financial and non-financial sectors, is expected to continue in the near future. As competition intensifies between existing financial institutions and big-tech companies, regulatory authorities are once again thinking of ways to reshape the regulatory framework to enhance the competitiveness of the financial industry.
New Administration’s National Agenda on Fair Trade and Implications
On May 3, 2022, the 20th Presidential Transition Committee (the “Committee”) announced 110 national agenda items (the “National Agenda”) for the Yoon Suk-yeol Administration, which lists the new administration’s key policy objectives and direction. They include detailed tasks relating to the field of fair trade under the objective of creating “a country where SMEs are at …
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FSC Draws a Blueprint on the Future of Banking Business
On October 28, 2021, Mr. Seung-Beom Koh, Chairman of the Financial Services Commission (the “FSC”) held a meeting with the banking industry, including the heads of commercial banks and representatives from industry associations, other regulatory bodies and research institutions.
Legal, Regulatory and Policy Updates on Online Platforms and Content Provision Businesses
As the size and social influence of online platforms and content provision businesses grow, various regulatory bills are being proposed and government authorities are accelerating discussions on establishing relevant policies.
[SOUTH KOREA] Potential Regulatory Compliance Systems to Enhance the Safe Control of Chemical …
Potential Regulatory Compliance Systems to Enhance the Safe Control of Chemical Substances Continuing its policy to enhance the safe control of chemical substances, the Ministry of Environment (“MOE”) has been making legislative efforts to further heighten regulations of chemical substances.
[SOUTH KOREA] KFTC Announces Plan to Eliminate Technology Misappropriation
On September 8, 2017, to promote joint growth of enterprises of all sizes and their collaborative efforts, the Korean Fair Trade Commission (“KFTC”) and the ruling Democratic Party of Korea held a consultation conference to step up efforts to eliminate unfair demands of technical information and/or misappropriation of technology by large conglomerates against small and …
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