SEOUL: South Korea's financial watchdog has announced its commitment to ongoing efforts aimed at promoting systemic improvements across the nation's financial markets. The Financial Supervisory Service (FSS) has outlined its focus areas, which include enhancing regulations and financial systems, refining corporate governance, and addressing financial investment tax and short selling mechanisms.
According to Yonhap News Agency, the FSS is determined to stimulate capital markets in the face of increasing political and economic uncertainties. The agency has pledged to improve the short selling system and raise shareholder value as part of its broader strategy. An important milestone in this initiative is the unveiling of comprehensive guidelines for short selling, which are set to be introduced in March. Additionally, the FSS plans to expand the English filing system, facilitating greater accessibility and transparency in financial reporting.
The FSS is also keen on fostering corporate growth and has encouraged more companies to participate in its corporate value-up scheme. This initiative aims to enhance the overall market value of participating companies, thereby contributing to a more robust and dynamic capital market environment.