On January 25, 2023, the Financial Services Commission (the “FSC”) announced its proposed measures to ease foreign investors’ access to Korean capital markets (the “Proposed Measures”). The current foreign investment system has been criticized for impeding upon global investors’ active investments in the local stock market and drifting away from international standards. Needless to say, the limitations on foreign investors played its part in causing the undervaluation of Korean stocks (the so called “Korea discount”) and slowing the growth of the local stock market. With the Proposed Measures, financial authorities anticipate growing foreign investment in the domestic capital markets. The key features of the Proposed Measures are as follows: