Recently there have been some news reports that foreign financial firms are downsizing their business or withdrawing from Korea due to strict financial regulations.
However, a renowned financial expert of the Korea Institute of Finance wrote in his report that such trend doesn’t have significant correlations with Korean government’s financial regulation level.
Though it is true that the financial regulation level in Korea is stronger than that of Hong Kong or Singapore, many foreign financial institutions operating in Korea including Templeton, JPMorgan, and Lina are steadily growing by successfully targeting niche market.
Therefore, the author concluded that Korea’s regulations do not pose any asymmetrical impact on foreign financial firms operating in Korea.
log on to the KIF website and download the full report in Korean “외국계 금융사의 국내 영업축소 배경 및 시사점”