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South Korea Introduces Strict Compliance Policies for Financial Firms

South Korea Introduces Strict Compliance Policies for Financial Firms

The South Korean financial regulatory authorities have introduced strict compliance policies for financial enterprises to prevent systemic risks. Higher requirements are put forward for capital adequacy ratios, risk management processes, information disclosure, etc. Enterprises need to strengthen the compliance review of financial products and risk early - warning. Although this helps to stabilize the financial market, it tests the operating costs and management levels of enterprises, prompting them to strengthen the construction of compliance teams.