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October 2, 2006
Korean FSC to Ease Restrictions on Sales of Foreign Funds
The Financial Supervisory Commission says it will ease restrictions on sales of foreign funds in the country to help meet the rising demand here. Under the plan, foreign asset management firms with less than W5 trillion(US$1=W945) will be able to sell fund products in the country. Now only those with more than W5 trillion are allowed to do so. Sales of foreign real-estate funds and fund of funds will also be allowed.
Sales of foreign funds in the country have seen a sharp increase, from W2.8 trillion at the end of 2003 to more than W9 trillion at the end of July this year.
-Arirang News-
Posted by su at October 2, 2006 12:03 PM