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Finance

Governance rules added to performance scorecard as fate of South Korea’s top five bank chiefs hangs in balance

The terms of South Korea’s five major bank chiefs end at the same time on Dec. 31, turning leadership succession into a key second-half issue for the financial sector. The industry is leaning toward reappointments to maintain management continuity, but performance differences and governance factors could shape outcomes. Regulators are also discussing governance reforms, including measures to boost board independence and transparency in CEO selection, which could affect year-end appointments.

Finance

ELS fines cut to 600 billion won after local elections, financial policy in focus

With the June 3 local elections over, attention in South Korea’s financial sector is shifting back to financial authorities and the National Assembly. Issues that lost traction during the campaign, including governance reform at financial holding firms, digital asset regulation, loan rules for non-resident single-homeowners and a compensation liability system for voice phishing, may return to the agenda in the second half. Regulators have also adjusted ELS sanctions and stepped up work on consumer protection and AI security threats.

Finance

FSS cuts penalties on banks over Hong Kong H-index ELS to 600 billion won

South Korea\'s Financial Supervisory Service cut proposed penalties on five banks that sold equity-linked securities tied to the Hong Kong H-index to about 600 billion won. The decision was made at an extraordinary sanctions review meeting and will be finalized after a resolution by the Financial Services Commission. The revised amount is more than half below the 1.4 trillion won sanctions plan previously submitted to the FSC.