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Finance

Governance reform, digital assets legislation in focus as financial agenda may accelerate after election

South Korea\'s financial sector is turning its attention to regulators and parliament after the June 3 local elections, with a range of delayed policy issues expected to return to the agenda in the second half. These include governance reforms at financial holding firms, possible restrictions on jeonse loans for non-resident single-home owners, a no-fault compensation scheme for voice phishing victims, the Digital Assets Basic Act and revisions to the Microfinance Act.

People

Lee Dong-cheol tapped as next Credit Finance Association chief candidate

Lee Dong-cheol (이동철), former vice chairman of KB Financial Group, has been tapped as the next head of the Credit Finance Association. The association\'s chief executive candidate recommendation committee held its second meeting on Wednesday and recommended Lee as the sole candidate. He is expected to be formally appointed as the 14th chairman at an extraordinary general meeting on June 16. The term is three years.

Finance

Securities industry enters first annual meeting season after Commercial Act revision; what to watch

South Korea\'s securities industry has entered its regular annual shareholder meeting season, the first since a revision to the Commercial Act. Firms are reviewing governance changes, CEO appointments and shareholder return policies as well as performance. Key items include management lineups, revisions to corporate charters in line with the amended law, and expanded shareholder returns through dividends and treasury share cancellations. Some brokerages are keeping current leadership while others move to new CEO structures.