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New head of South Korea’s Financial Services Commission pledges extensive reforms

( March 18, 2015, 03:08 GMT | Insight) -- Yim Jong-yong, the new chief of South Korea's Financial Services Commission, has vowed to make drastic reforms, including changing the country's bourse system in order to allow different markets to take stronger individual roles, one of a number of reforms...Yim Jong-yong, the new chief of South Korea’s Financial Services Commission, has vowed to make drastic reforms, including changing the country’s bourse system in order to allow different markets to take stronger individual roles, one of a number of reforms mentioned during his first press conference since taking office on Monday, Yonhap News Agency said. The new FSC chief said that he will discuss different methods to reorganize the country’s three-tier bourse system, implement new guidelines to allow Internet banks to conduct business in the country by June, and sell the state-operated Woori Bank, as part of his plan to reform the nation’s financial sector....

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