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Industry

Synthetic biology promotion act takes effect, launching full-lifecycle support system

South Korea has put into force a law designed to systematically foster synthetic biology, the Ministry of Science and ICT said on April 23. The law sets rules for promoting research and development and for safety management, including five-year basic plans and annual implementation plans. It also allows the designation of R&D hub institutions and the establishment of a public biofoundry, with procedures, fees and emergency provisions. The act also provides a basis for joint use of research data.

Finance

FSS orders risk controls for IMA, says investor protection must not be neglected

South Korea\'s Financial Supervisory Service called in major comprehensive investment firms and urged stronger risk management for note issuance and integrated investment accounts, as funding via the products has grown rapidly. It stressed tighter internal controls and liquidity management, and told firms to prepare for stress scenarios. The FSS also highlighted responses to overseas private loan funds, urging early monitoring of redemptions and losses and prompt investor guidance if limits arise.

Finance

Shinhan Investment revamps, expands research division to support productive finance

Shinhan Investment said on Tuesday it has expanded and reorganised its research division to support productive finance. It split its corporate analysis unit into two departments and created an innovation growth team under Corporate Analysis Department 1. The firm said the team will focus on expanding coverage of productive finance and innovation growth companies and strengthening analysis of overseas firms. It plans to increase covered names to 400, including KOSDAQ.