On 24 January 2023, SK FSS improved regulations re foreign investors in SKOR.
- SK FSS announced to improve regulations re foreign investors in the SKOR market, which have acted as obstacles to their investing activities for more than 3 decades.
- Follows November 2022 SK FSC's attempt to resolve SKOR discount.
- Terminate the foreign investor registration system that has been in place since 1992; instead, permit foreign investors to utilize passport numbers and LEIs (for corporates).
- No longer require foreign investors to immediately report on their investment transactions as soon as they take place, to encourage the use of integrated accounts.
- Expand the scope of over-the-counter trading for stocks and bonds for foreign investors without the need for prior review and also reduce the burden of reporting.
- Starting from 2024, implement English-language disclosures for publicly listed companies with assets over KRW 10 trn, step-by-step, from the most key information.
- Revisions will be passed within the first half of 2023 and implemented within the year.
- Revision to the disclosure regulations of the exchange will be completed within '23 Q1