FSS Publishes 'Financial Companies Overseas Expansion Guidebook'

Full Implementation of Regulatory Improvements to Promote Overseas Expansion

Financial Supervisory Service, Yeouido, Seoul. Photo by Younghan Heo younghan@

On the 16th, the Financial Supervisory Service (FSS) announced that it has revised and published the "Guidebook for Overseas Expansion of Financial Companies" to efficiently and systematically support the overseas expansion of domestic financial companies.

The guidebook contains domestic reporting requirements and procedures under each financial sector's regulations and foreign exchange transaction laws related to the establishment of overseas branches by financial companies. In particular, it fully reflects regulatory improvements such as ▲ easing reporting obligations for investments in offshore financial companies to revitalize overseas expansion of financial companies ▲ establishing special cases related to investment by capital contribution requests ▲ resolving overlapping reports with financial sector laws.

The FSS expects that the revised guidebook will enhance the overall understanding of the reporting procedures for overseas expansion of domestic financial companies, promote compliance with overseas expansion-related regulations and smooth business operations, and improve the transparency of financial supervision tasks.

The FSS stated, "The guidebook will be distributed to financial companies and financial associations in each region and posted on the Financial Hub Support Center website so that financial companies can view and download it at any time," adding, "We will continue to strengthen support for the successful overseas expansion of financial companies."