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Finance
Kosdaq firms below market cap threshold can move to Konex, delisting rules revised
South Korea will allow Kosdaq-listed companies that fall short of the market capitalisation threshold to transfer their listing to the Konex market if they meet certain financial requirements, aiming to reduce market shock from tougher delisting rules. Authorities will also delay by six months a planned increase in the Kosdaq market-cap delisting threshold, pushing the implementation to July next year from January.
Finance
KEXIM chief Hwang says productive finance to spread support to exporting SMEs
Korea Eximbank CEO Hwang Ki-yeon said the bank will reinforce inclusive, productive finance so benefits reach regional exporting small and mid-sized firms. He said the bank will focus policy capacity on supporting large strategic industries while building an industrial ecosystem that also covers local SMEs. The bank plans a 150 trillion won financing package through 2030, including 110 trillion won for SMEs and mid-sized firms and a higher share of lending outside the capital region.
Finance
Lee Chanjin, FSS chief, calls for stronger outside director independence and more transparent succession at financial holding firms
Lee Chanjin, head of South Korea’s Financial Supervisory Service, called for sweeping improvements in the role of outside directors and in management succession procedures at financial holding firms. He said CEO succession is crucial for financial system stability and urged clear, transparent and objective criteria. Lee also stressed consumer protection and internal controls, called mis-selling a “survival risk,” and highlighted the need to include IT security and financial consumer expertise on boards.