South Korea\'s industry ministry has begun an audit into a Korea Chamber of Commerce and Industry press release that contained false statistics, after holding an emergency meeting with six major economic groups. Industry Minister Kim Jeong-gwan apologised as the minister overseeing the chamber and criticised the release for citing estimates from a private immigration consulting firm rather than a professional survey agency. He said the matter could confuse the public and markets and damage trust in the policy environment.

South Korea is moving closer to a third revision to the Commercial Act, which could pass parliament as early as early February after review by a key committee, the financial investment industry said. The bill would mandate the cancellation of treasury shares within set time limits and curb or require protections for duplicate listings. Business groups asked for exceptions, a longer grace period and changes to breach-of-trust rules. President Lee Jae-myung voiced support for swift passage.