System overhaul

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Sang-kyu Lim - a six-year veteran of Korea's Financial Supervisory Service (FSS), who took over its derivatives supervision team in January 2005 - has a busy few months ahead.

The FSS is grappling with how, and to what extent, foreign dealers are to participate in the domestic market. For example, several large foreign securities firms, such as Macquarie Securities and Morgan Stanley Securities, are awaiting the outcome of applications for over-the-counter (OTC) derivatives licences. To obtai

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