The South Korea Financial Services Commission published an update on Chairman Kim Byoung Hwan’s April 21–22 visit to Boston and New York, describing outreach to U.S.-based investors and market participants aimed at strengthening bilateral financial cooperation and identifying regulatory and policy measures to support Korea’s biotech venture investment and Korean firms’ overseas operations. In Boston, Kim visited the Korea Health Industry Development Institute’s U.S. office, met Korean venture capital investors active in the biotech cluster, and visited AVEO Oncology, a U.S. biopharmaceutical company owned by LG Chem. Discussions focused on the post-2021–2022 decline in Korea’s venture investment, exit challenges in biotech, and potential support measures including public sector capital in high-tech strategic industries, improved information-sharing infrastructure for investment, and a tighter network of specialist professionals. In New York, he met Blackstone CEO Stephen Schwarzman and discussed the potential market impact of U.S. reciprocal tariffs and related countermeasures; Kim also referenced ongoing capital market reforms, including expanded access to foreign exchange and capital markets, reinstatement of short selling, and the corporate value-up program, and noted that an application process opened in April for a previously announced policy intended to reduce uncertainties around global asset managers’ fund sales and encourage their entry into Korea. Meetings with Korean financial companies operating in New York addressed challenges from differing legal and regulatory frameworks and a rapidly changing environment since the inauguration of the Trump administration. The FSC indicated it will maintain close communication with U.S. financial authorities and continue pursuing regulatory improvements to support overseas operations, while highlighting that duplicate reporting requirements for overseas direct investment were lifted in December 2023 but remain in practice due to low awareness.
South Korea Financial Services Commission 2025-04-23
South Korea Financial Services Commission chair visits Boston and New York to promote biotech venture investment and deepen US financial cooperation
The South Korea Financial Services Commission reported on Chairman Kim Byoung Hwan's visit to Boston and New York to enhance financial cooperation and support Korea's biotech venture investment. Boston discussions focused on venture investment challenges and support measures, while New York meetings addressed U.S. tariffs' market impacts and capital market reforms. The FSC emphasized ongoing communication with U.S. financial authorities and efforts to improve regulatory conditions for Korean firms abroad.