South Korean FSS Governor outlines capital market reforms in London

Financial Supervisory Service (FSS) Governor Lee Chan-jin visited London to present a blueprint for reforming South Korea’s capital markets to global investors. During an investor relations session attended by 22 major global investment banks and asset managers, including Goldman Sachs and Morgan Stanley, Lee outlined strategies to resolve the ‘Korea Discount’ and attract more foreign capital.

Key initiatives include improving trading infrastructure by shortening settlement cycles, extending trading hours, and establishing token security infrastructure. A major goal is the internationalization of the Korean won, allowing foreign investors to trade the currency without time or location constraints. The FSS also plans to tighten regulations against market disturbances, encourage voluntary corporate value-ups, and refine entry and exit standards for the KOSDAQ market to facilitate capital flow into innovative industries.

In addition to the investor briefing, Lee met with leaders from the UK’s Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA), and Financial Reporting Council (FRC) to discuss consumer protection, digital operational risks, virtual assets, and accounting oversight.