IMF Staff Country Reports

Republic of Korea: Financial Sector Assessment Program-Technical Note-Financial Conglomerates Supervisions

Publication Date:

September 18, 2020

Electronic Access:

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Summary:

Oversight of the Korean financial system is broadly effective. Korea’s Financial Services Commission (FSC) and Financial Supervisory Service (FSS) have in place regulatory and supervisory regimes in line with international standards with only a few remaining gaps. The authorities have addressed most of the recommendations of the previous FSAP and made good progress in benchmarking their frameworks with the Basel Core Principles (BCP), the Insurance Core Principles (ICP) and the International Organization of Securities Commissions (IOSCO) Objectives and Principles for Securities Supervision (IOP).

Series:

Country Report No. 2020/275

Subject:

Asset and liability management Asset management Banking Capital adequacy requirements Corporate governance Economic sectors Financial conglomerates Financial institutions Financial regulation and supervision Financial services Insurance companies

Frequency:

regular