Regulatory Alerts2024-06-21 | 82511Abolishment of Investment Registration Certificates Improves Market Access for Foreign Investors
The Financial Services Commission abolished the 30-year-old Investment Registration Certificate requirement, allowing foreign investors to open accounts using legal entity identifiers or passports. This regulatory change has significantly increased market access, resulting in 1,432 new accounts opened between December 2023 and June 2024 compared to an average monthly issuance of 105 in 2023. To further facilitate investments, the Korea Federation of Banks has revised operational manuals to accept alternative LEI documentation and waived apostille requirements for notarized powers of attorney.
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