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Gov’t, party to push for passage of prevention of conflict of interest bill Mar 11, 2021, 08:12 am Acting DP chairman and floor leader Kim Tae-nyeon speaks during a meeting of the top party council at the National Assembly on March 10, 2021/ Photographed by Lee Byung-hwa (photolbh) AsiaToday reporter Jo Jae-hak Amid increasing suspicion of land speculation involving employees of state-run institutions and civil servants, the government and the ruling Democratic Party (DP) decided to speed up the passage of a bill aimed at preventing conflicts of interest involving public officials, which has been stalled for eight years. As the DP vowed to pass the bill with the recent LH scandal, attention is on whether the bill can be approved at the National Assembly. ....
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Korean version of Elliott becomes feasible Posted : 2021-02-28 15:32 By Park Jae-hyuk MBK Partners, Hahn & Company, IMM Private Equity and other Korean private equity firms (PEFs) will be able to compete fairly with their foreign peers in the local capital market. If the National Assembly abolishes discriminatory regulations against domestic PEFs, they are expected to engage in shareholder activism and invest in domestic unicorns with high growth potential. According to the National Policy Committee, Sunday, its members agreed last week on a revision of the Capital Markets Act, which includes the abolishment of the so-called 10 percent rule that forces PEFs meddling with the management of companies to acquire more than 10 percent of voting shares or a board seat in companies in which they invest. ....
BOK-FSC conflict intensifies over control of settlement payment system By Anna J. Park A conflict appears to be intensifying between the central bank and financial watchdog over control of the country s settlement payment system after the Bank of Korea (BOK) denounced a proposed revision to the nation s Electronic Transactions Act as being the only Big Brother law in the world. In a statement issued Wednesday, the BOK strongly condemned the revisions to the e-commerce transactions act proposed by the ruling party s three-term lawmaker Youn Kwan-suk, which curtails the central bank s role in the national payment settlement system. The revised bill is obviously a Big Brother law. If the revision is passed, the FSC will be able to collect information on every transaction made at big tech companies, such as Naver, through the Korea Financial Telecommunications & Clearings Institute (KFTC), the BOK said. ....
Posted : 2021-02-01 16:15 Updated : 2021-02-02 09:13 Financial Services Commission Chairman Eun Sung-soo, second from right, fixes his gaze at Anti-Corruption and Civil Rights Commission Chairperson Jeon Hyun-heui during National Policy Committee meeting at the National Assembly on Yeouido, Seoul, Jan. 29. Yonhap Over 60 % retail investors oppose resumption of short selling By Lee Kyung-min The government is expected to extend its short-selling ban for another three months until mid-June, in a move to placate retail investors seeking collective action against what they consider an extremely uneven playing field on the stock market, according to multiple sources, Monday. The much-politicized financial investment method is being widely used by foreign and institutional investors to make profits after selling borrowed shares at a lowered price in a bear market at the expense of retail investors. ....