[DigitalToday reporter Oh Sangyeob] The Financial Services Commission said on Wednesday it held a regular meeting of the Securities and Futures Commission and reviewed agenda items to designate Hana Securities and Shinhan Investment Corp as comprehensive financial investment businesses and to grant them licences for short-term financing through note issuance. The two companies will be confirmed as short-term note issuers after a vote at a future regular FSC meeting.

It has not yet been decided whether the agenda will be tabled at next week's regular FSC meeting, the only one remaining this year, raising the possibility that the final approval could slip into next year.

The short-term notes are products with maturities of 1 year or less that securities firms designated as comprehensive investment businesses, meeting the requirement of at least 4 trillion won in equity capital, issue on their own credit. They can be issued up to 200 percent of equity capital.

Financial authorities have been reviewing applications after accepting additional requests this year to activate the supply of venture capital by securities firms. Securities firms have also focused on securing approval, as funds raised through the notes can expand a range of investment banking businesses.

Five firms applied: Samsung Securities, Hana Securities, Meritz Securities, Shinhan Investment Corp and Kiwoom Securities. Kiwoom Securities received approval first last month.

If Hana Securities and Shinhan Investment Corp also receive approval, the number of short-term note issuers will rise to 7, adding to Korea Investment & Securities, Mirae Asset Securities, NH Investment & Securities, KB Securities and Kiwoom Securities.