Here’s the article formatted in Markdown:
Reporting Shareholding Status in Korean Banks and Bank Holding Companies
In Korea, there are specific regulations related to reporting shareholding status in banks and bank holding companies. Understanding these requirements is essential for investors looking to acquire a significant stake in these institutions.
Korean Banks (KRX-listed or non-listed)
Reporting Requirements
- Investors who acquire more than 4% shareholding must report their shareholding status to the Financial Services Commission (FSC) within 10 business days from the settlement date.
- If there is a change of 1% or more, subsequent reports must be submitted to the FSC within 10 business days from the settlement date.
Required Information
When reporting, investors must include the following information:
- Matters concerning the same person
- Stockholders or partners in cases of a private equity fund, etc.
- Amount of investments by limited partners or general partners of a private equity fund
- Status of stockholding and change, and reasons therefor
- Purpose of stock holdings and involvement in the management of bank holding companies, etc.
Consequences of Non-Compliance
Failure to comply with disclosure requirements can result in a fine of up to KRW 100 million.
Bank Holding Companies (KRX-listed or non-listed)
Reporting Requirements
- Investors who hold more than 4% shareholding must report their shareholding status to the FSC by the last day of the following month.
- If there is a change of 1% or more, subsequent reports must be submitted to the FSC by the last day of the following month.
Required Information
When reporting, investors must include the following information:
- Matters concerning the same person
- Stockholders or partners in cases of a private equity fund, etc.
- Amount of investments by limited partners or general partners of a private equity fund
- Status of stockholding and change, and reasons therefor
- Purpose of stock holdings and involvement in the management of bank holding companies, etc.
Consequences of Non-Compliance
Failure to comply with disclosure requirements can result in a fine of up to KRW 100 million.
Additional Note for Investors
Investors who are looking to acquire more than 4% shareholding should inform the FSS in advance and discuss how the report is to be submitted or presented.