Korea opens up licensing
The move by the Financial Services Commission will bring some additional clarity to the tricky business of obtaining licences in the country
Korea's Financial Services Commission (FSC) has relaxed its position on the authorisation of new and add-on business approvals for financial investment businesses, a term that applies broadly to financial institutions. The regulator said in a statement that "all new business authorisation applications will be accepted except real estate single-category investment authorisation, considering the current market conditions".
The development represents a step towards the opening out of the market
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