Shedding shackles

The expected approval of new financial rules in Korea in the coming months should liberate the country's financial markets and bolster financial efficiency. But domestic banks are far from happy.

The Korean financial system is poised for a major shake-up during the next 18 months, with the likely introduction of a more flexible system of financial regulation. The proposed system, similar to the liberalising efforts introduced in the UK in 1986 and Australia in 2002, aims ultimately to widen the scope of investment products available in the country while maintaining protection for investors.
The new framework will be established pending the ratification of the Financial Investment

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