The Financial Services Commission will resume reviews of five securities firms that applied for issuance approval of notes. The final approval decision is expected to be made in November.
According to financial authorities on the 29th, the Financial Services Commission's agenda subcommittee decided to continue the review of issuance approvals the previous day.
This year, five securities firms, including Kiwoom Securities, Samsung Securities, Meritz Securities, Shinhan Investment, and Hana Securities, have applied for issuance approval. The Financial Supervisory Service delivered an opinion to halt reviews of four of the securities firms last month, excluding Kiwoom Securities, but the Financial Services Commission has determined to continue reviews for all securities firms.
This decision by the Financial Services Commission appears to reflect the government's policy to activate venture capital. President Lee Jae-myung has emphasized the activation of venture capital as a significant policy direction in the capital markets sector. Lee Eok-won, the chairperson candidate of the Financial Services Commission, also noted on the 14th, "I will innovate finance, which remains in low-productivity sectors such as real estate, to focus on innovative industries and increase national added value."
Accordingly, the FSS will continue reviewing for approval. There are no additional discussions scheduled in the regular meeting of the Financial Services Commission. However, considering the time required for the review, the final approval decision is expected to be made in November.