• Policy Issues

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  • Authorities to Seek Suspension of Fraudulent Accounts Held by VASPs Financial institutions are expected to suspend the accounts linked to fraudulent activities. Making use of the suspicious transaction reports, the Korea Financial Intelligence Unit (KoFIU) will relay any cases connected to money laundering or other illicit activities to law enforcement agencies. The authorities will continue to closely monitor deposit accounts held by VASPs until the registration deadline of September 24, 2021. 2021.07.28
  • Korean National Balance Sheets for 2020 A look at the preliminary Korean National Balance Sheets (KNBS) for 2020 finds that Korean national wealth ― the net worth of the total economy ― amounted to 17,722.2 trillion won as of year-end 2020, 1,093.9 trillion won (+6.6) higher than the previous year’s figure. As of end-2020 the value of non-financial assets totaled 17,215.2 trillion won, and that of net financial assets (financial assets less liabilities) was worth 507.1 trillion won. 2021.07.22

• Publications

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  • Industrial Complexes to open their doors to more businesses The Korean government is lifting restrictions to the types of businesses that are authorized to enter industrial complexes, opening them to all businesses in principle. 2020.05.14
  • Korean government to promote medical supplies manufacturing industry Due to the COVID19 pandemic, the health and medical treatment industry is the center of interest to investors. Nations are under fierce competition to secure essential medical supplies such as masks or respirators. 2020.05.12

Recent Events

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  Meeting of NTS Commissioner and KCCI leaders
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  Business circle collecting project ideas from people to find new solutions to make a better country
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  Prime Minister-Heads of Economic Organizations Meeting