Financial Services Commission: "Domestic Stocks Will Be Tradable in Monetary Units"
[Asia Economy Reporter Koo Eun-mo] Financial authorities have decided to establish measures to allow trading of domestic stocks not by 'number of shares' but by 'amount' units, in addition to overseas stocks.
On the 20th, the Financial Services Commission announced that it will improve financial regulations proven necessary to be revised through the financial regulatory sandbox (exemption and special cases) system. The FSC plans to prepare regulatory improvement measures to allow fractional share trading. Currently, special exemptions have been granted to allow fractional trading of overseas stocks, such as exemptions from the obligation to separately deposit shares owned by financial investment companies and investors when depositing stocks.
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Accordingly, it will be possible to invest in stocks by amount units, enabling investors to buy just 10,000 KRW worth of Amazon shares, which exceed 3 million KRW per share. The FSC plans to review various business models to allow fractional share trading for domestic stocks as well and will present regulatory improvement measures in the fourth quarter of this year.
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