IMF Staff Country Reports

Republic of Korea: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems

March 19, 2003

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International Monetary Fund. Monetary and Capital Markets Department "Republic of Korea: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems", IMF Staff Country Reports 2003, 081 (2003), accessed December 22, 2024, https://doi.org/10.5089/9781451822151.002

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Summary

This paper presents key finding of the Financial System Stability Assessment for the Republic of Korea, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems. Korea has achieved a high degree of observance of key standards and codes through newly revised laws and competent supervision. However, supervisory independence could be strengthened to improve the ability to provide authoritative guidance and interpretation. Reform of the banking sector has restored profitability and improved its strength and resilience.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Commercial banks, Crime, Financial institutions, Insurance, Insurance companies, Securities

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Balance sheet, Banking sector, Central bank, Commercial banks, CR, Due diligence, Financial market, Global, Government bond, Insurance, Insurance companies, Investment trust, ISCR, Securities

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