Lee Eogwon: "Pushing for Passage of Capital Market Revitalization Bill in Regular National Assembly Session"

First Monthly Press Briefing Since Taking Office
IMA Operators to Be Designated as Early as This Month

"We will make every effort to ensure that the amendment to the Capital Markets Act, which includes the introduction of security token offerings (STOs) and strengthened shareholder protection during mergers and splits, passes in the regular session of the National Assembly to revitalize the capital market."

Lee Eokwon, Chairman of the Financial Services Commission, is speaking about recent issues at a press briefing with reporters at the Government Seoul Office in Jongno-gu, Seoul on November 12, 2025. Photo by Jo Yongjun

On November 12, Lee Eogwon, Chairman of the Financial Services Commission, explained this during a press briefing at the Government Seoul Office in Gwanghwamun, stating, "To improve access to the capital market and enhance shareholder rights, we plan to expand the scope of companies required to disclose information in English, and strengthen disclosure of shareholder meeting voting results related to executive compensation. We will also announce measures to improve the disclosure system."

The financial authorities are working to amend the Act on Corporate Governance of Financial Companies to introduce the 'Say-on-pay' system, which requires companies to explain individual executive compensation plans at shareholder meetings, as well as the 'clawback' system for reclaiming performance-based bonuses. Lee stated, "We are preparing measures to improve the performance and compensation system to prevent excessive short-term profit-seeking by executives and employees of financial companies," and added, "Currently, disclosures are made based on the total amount for executives, but we are also considering disclosure of individual compensation in the future."

He also mentioned plans to introduce tax benefits for long-term stock investors. President Lee Jaemyung instructed at a cabinet meeting the previous day to review ways to provide tax incentives to general investors, excluding major shareholders, who make long-term investments. Regarding this, Lee emphasized, "Expanding long-term investment is an important task for the development of the capital market," and added, "We will actively present our views during discussions with relevant ministries and strive to ensure that these are fully reflected in policy."

The designation of integrated investment account (IMA) operators, which are allowed for comprehensive financial investment business entities, is expected to take place as early as this month. He stated, "The designation of IMA and issuance note operators for comprehensive investment business entities will proceed as soon as the review is completed," and added, "If the review progresses quickly, we expect the first designation case to be announced this month."

He also expressed a fundamental position on the review of IMA and issuance note operators. Lee explained, "Whether the review is suspended will be determined based on the seriousness and clarity of the issues," and added, "It will depend on whether or not the facts are applicable."

Meanwhile, he did not provide a clear answer regarding the timing of the submission of the second-phase virtual asset bill. Lee had previously stated during last month's parliamentary audit that the second-phase bill would be submitted within this year. He said, "As a new system is being introduced, there may be various perspectives," and added, "We will work closely with relevant ministries and push forward with a sense of speed."

This content was produced with the assistance of AI translation services.