On September 25, 2023, Korea’s Financial Services Commission (“FSC”) announced a legislative notice for a proposed amendment to the Enforcement Decree of the Financial Investment Services and Capital Markets Act (the “FSCMA”). This follows a proposed amendment of the FSCMA passed by Korea’s National Assembly in June 2023 (the “Proposed Amendment”), a primary goal of which was to strengthen sanctions against unfair trading activities in Korea’s capital markets. Through the Proposed Amendment, Korea’s financial regulators are looking to revamp the current system of unfair trade practice sanctions and secure fair market order by imposing administrative penalties on unfair trading activities, implementing standards for calculating unfair gains and providing leniency measures for voluntary reporting.