Regulators： Korea Financial Services Commission

Regulatory region： Korea

License Type： Financial license

Application price (USD)： ****

Application frequency： six months

Maintenance costs (USD)： ****

Company summary： The Financial Services Commission (FSC) was established in 1998. The Financial Supervisory Commission of the Republic of Korea and its executive agency, the Financial Supervisory Institute, and the affiliated Securities and Futures Commission (SFC) replaced the original Bank of Korea, the Ministry of Finance, the Financial and Monetary Operation Commission (the Banking Supervisory Institute), the Insurance Supervisory Institute, and the Securities Supervisory Institute. The Korea Financial Services Commission is a central government agency responsible for financial policy and supervision. function

Product details： The Financial Supervisory Commission (FSC) is a government agency with a committee nature composed of representatives from various government departments. The main responsibilities of this agency are as follows: Firstly, explain the laws and regulations related to financial regulation; Secondly, responsible for issuing and revoking the business licenses of all financial institutions (including foreign-funded financial institutions); The third is to inspect and guide the daily regulatory activities of the Financial Supervisory Authority (FSS). FSC has statutory authority to draft and modify financial laws and regulations; Supervise, inspect, and sanction financial institutions; Issuing regulatory licenses and approvals to financial institutions; Supervise the capital market; And supervise foreign exchange transactions conducted by financial institutions to ensure their financial stability.