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Finance

Korea to scrap cap on rewards for reporting stock manipulation and accounting fraud

South Korea will abolish the ceiling on rewards paid to people who report stock manipulation and accounting fraud, raising incentives to report major unfair-trading cases. The Financial Services Commission said amendments to enforcement decrees under the Capital Markets Act and the External Audit Act were approved by the cabinet. Rewards will be simplified and paid up to 30 percent of illicit gains or penalties. The rules also expand eligibility, allow partial advance payments and strengthen information-sharing among agencies.

AI & Enterprise

Korea Exchange steps up AI shift, rolls out AI for disclosure and market measures

Korea Exchange is accelerating its AI shift by applying AI technology to key capital-market tasks after acquiring AI startup FairLabs. The exchange said it is introducing AI to listed-company disclosures, market measures and its index business. It is using AI to capture important information in real time from large volumes of news and to support review and verification processes for disclosures and market measures. It also plans to automate parts of industry classification management for index development.

Telecommunications & Media

Broadcast Media Communications Commission holds first full meeting, reauthorises 150 stations; TBS to face hearing

South Korea\'s Broadcast Media Communications Commission held its first full meeting since its launch and cleared 23 pending items. It approved reauthorisation for 150 broadcast stations, setting licence terms based on review scores, and decided that 17 stations including TBS will undergo hearings before a final decision. It also handled drafts tied to amended broadcasting laws, follow-up rules after the repeal of the handset distribution law, and subordinate rules for a transmission qualification certification system due to take effect in September.