Discussions are accelerating in South Korea on shortening the stock market settlement cycle from T+2 to T+1, but brokerages and related agencies said stable preparations in back-office operations must come first. They cited issues including foreign investor settlement and currency conversion, securities lending, ETF creation and redemption, and system overhauls. Participants also stressed automation and standardisation, warning that inadequate readiness could undermine settlement stability and market trust.

Shinhan Financial Group’s holding company said on March 3 it recommended 2 new outside director candidates, Park Jong-bok and Lim Seung-yeon, after meeting its outside director and audit committee nomination panel. It also recommended the reappointment of 5 outside directors. Two directors, Yoon Jae-won and Lee Yong-kuk, will step down after this month’s annual shareholders meeting. The company also proposed outside directors and audit committee candidates in line with revisions to commercial law.