South Korea's Financial Services Commission has finalised an assessment plan to decide whether Jeonbuk Special Self-Governing Province should be designated a financial hub.
The FSC said on Aug. 19 it reviewed and confirmed the "Jeonbuk financial hub designation assessment plan" at the 53rd meeting of the Financial Hub Promotion Committee.
Jeonbuk submitted the "Jeonbuk financial hub development plan" to the FSC on Jan. 29.
After that, the FSC selected a research institution through a call for research services and formed an evaluation panel of 12 experts in fields including the economy, finance and law.
The research institution and the evaluation panel plan to conduct a written assessment and on-site inspections in the third and fourth quarters.
The Financial Hub Promotion Committee plans to review whether to designate Jeonbuk as a financial hub within 2026 based on the evaluation results.
Ji-young Lee
ljy@d-today.co.kr