Regulatory Alerts2024-07-10 | 82650FSC Announces Designation of Seven Non-holding Financial Groups for 2024
The Financial Services Commission designated Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB, and Daou Kiwoom as non-holding financial groups for 2024 to mitigate systemic risk contagion. These entities must appoint a representative financial business, implement group-wide risk management policies, and maintain capital adequacy ratios reflecting risk assessments. The FSC will conduct periodic three-year assessments to ensure these groups effectively monitor and manage their overall financial stability.
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