KOREAN REPUBLIC: Changes to 10% South Korea major shareholding notification rules effective 29 August 2013

Monday June 17 2013

The Financial Services COmmission has announced amendments to the Enforcement Decree to the Financial Investment Services and Capital Markets Act, which will enter into effect on 29th August 2013 in relation to changes to 10% South Korea major shareholding notification rules.

One announced reform is the introduction of an amendment to the reporting requirement on executives and 10% shareholders to report changes in positions in securities. From 29th August, directors or substantial shareholders will no longer be required to submit a 10% disclosure report if the change of holdings is less than 1,000 shares and the trade is less than KRW 10 million.

Click on the above link for more details.