Regulatory straitjacket?


In the good times before the global financial crisis, Korea appeared to be a ‘model student’ of the International Monetary Fund. To build on this, it was making noises about opening up its capital markets to international competition. The government’s stated aim for some time has been to turn Seoul into an international financial hub or, at the very least, a regional one. And the authorities have introduced several pieces of significant new regulation during the past two years to help this

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