SOUTH KOREA

Foreign Banks May Get Chance to Buy, Sell Local Securities: The government is planning to adopt regulations later this year that would allow foreign banks with business operations in South Korea to buy and sell Korean securities. Korean-owned banks already have the right to buy and sell securities issued by companies in South Korea. The regulatory changes are among government proposals for opening up the country’s capital markets to foreign investors. South Korean economic ministers unveiled the proposals at a financial policy conference in Washington last week. South Korea also said it was planning to relax regulations that have prevented foreign securities firms from engaging in foreign exchange transactions.