IMF Staff Country Reports

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

September 18, 2020

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Republic of Korea: Financial Sector Assessment Program-Technical Note-Financial Conglomerates Supervisions, (USA: International Monetary Fund, 2020) accessed October 6, 2024

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).

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

Keywords: Asset management, Capital adequacy requirements, Capital market, Capital ratio, Core activity, Corporate governance, CR, Credit risk, Fair value, Financial conglomerates, Financial market, Financial system, FSS enforcement process, FSS staff, Global, Hedge fund, Insurance companies, Internal audit, ISCR, Modeling approach, Operating capital, Representative company, Risk assessment, Risk management

Publication Details

  • Pages:

    73

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2020/275

  • Stock No:

    1KOREA2020002

  • ISBN:

    9781513556970

  • ISSN:

    1934-7685