A proposed amendment to the Financial Investment Services and Capital Markets Act (the “FSCMA”) introducing a mandatory prior disclosure of insider trading for listed companies was passed by Korea’s National Assembly on December 28, 2023 (the “Amendment”). The Amendment primarily requires insiders (such as major shareholders and executives, “Insiders”) of a listed company to disclose any large trading of shares in the listed company in advance. The Amendment is expected to be implemented in July, 2024.
Yeji KIM
Jinhee KIM Andrew J. PARK Sanghee LEE