The Financial Supervisory Service (FSS) will require Korean banks that have been placed under prompt corrective action measures to disclose details of their management improvement plans on their internet website. The recent measure aims at making related information readily available to varying stake holders and enhancing management accountability at the banks.
Although ideally the content of plans should be disclosed in its entirety, those that are seen to be inappropriate to be made public out of concerns of any adverse effects may take a more abbreviated form. Disclosure items include plans relating to shedding subsidiaries, reducing nonperforming loans and downsizing of staff and business activities, along with management performance targets, management strategies, governance structure, macro economic forecasts etc. There are currently ten banks that are placed under prompt corrective action measures ; Hanvit, Cho Hung, Korea Exchange, Korea First, Seoul, Peace, Pusan, Kyongnam, Cheju, Kangwon.

* Please refer to the attached file for details.