South Korea’s Financial Services Commission (FSC) has designated seven non-holding financial groups for 2025 under the Act on the Supervision of Financial Conglomerates. The designated groups are Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB and Daou Kiwoom, reflecting the FSC’s annual designation process since the Act took effect in June 2021 to oversee risk contagion and concentration within financial groups. The designated groups must appoint a financial business entity to represent the group and report that selection to the Financial Supervisory Service, periodically assess group-wide risks, and establish and follow internal control and risk management policies. They are also required to disclose material information relevant to consumer protection and report to authorities, calculate a capital adequacy ratio based on risk-weighted capital reflecting risks assessed by financial authorities, and remain subject to a periodic supervisory assessment of their risk profile and risk management every three years.
South Korea Financial Services Commission 2025-07-09
South Korea Financial Services Commission designates seven non-holding financial groups for 2025 supervision
South Korea's Financial Services Commission (FSC) has designated seven non-holding financial groups for 2025 under the Act on the Supervision of Financial Conglomerates, including Samsung, Hanwha, and Mirae Asset. These groups must appoint a representative entity, assess group-wide risks, establish internal controls, disclose material information for consumer protection, calculate a capital adequacy ratio, and undergo a supervisory risk assessment every three years.