The Financial Services Commission in Seoul (Yonhap)South Korean financial authorities have announced a set of new rules, including abolishing the decades-old investor registration system, in a move to create a welcoming environment for foreign investors. According to the Financial Services Commission, foreign investors hold around 30.7 percent of the local stock market as of the end of June 2022. However, this procedure has been considered excessive by many foreign investors, as it does not exist in other countries with developed markets like the US, Japan and Germany, according to the FSC. By the end of the second quarter, Korean financial authorities will revise laws so that foreign investors do not have to go through this extra registration process. Under the changed system, local securities only have to provide foreigners' investment information when the financial authorities ask for it.
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