Financial Supervisory Service: "Online Stock Broadcasting Operators... Must Register as Similar Investment Advisory Business by the End of This Month"

[Asia Economy Reporter Park Jihwan] The Financial Supervisory Service announced on the 15th that those who receive compensation from subscribers and conduct stock broadcasts online through platforms such as YouTube or AfreecaTV must complete the registration for quasi-investment advisory business by the end of this month.

This applies to online broadcast producers who receive direct compensation through paid membership systems such as YouTube channel memberships and provide advice on financial investment products. Over the past two months since May, 36 online stock broadcasting operators have completed their registration.

If they conduct one-on-one individual consultations, such as answering viewers' questions, they are considered to be engaged in professional investment advisory business and must register. However, if the operation is solely based on advertising revenue from the platform, they can operate without registration. Viewer sponsorships such as star balloons are excluded from the registration requirement as they are judged not to be direct compensation for investment advice.

Those subject to quasi-investment advisory business registration must submit documents to the Financial Supervisory Service. Continuing business without registration may result in imprisonment for up to one year or a fine of up to 30 million won.

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