The Financial Supervisory Service announced that a new electronic registration service that processes foreign investors’ registration applications and issues registration certificates electronically will begin June 1, 2007.

Launched as part of an ongoing effort by the FSS to continually improve Korea’s investment climate for global investors, the new electronic registration service utilizes the financial information network shared by the FSS and financial institutions for information exchange. A foreign investor using the new electronic registration service may send the registration documents via the designated financial institution (agent) and receive the registration certificate electronically. A foreign investor may designate an agent financial institution from banks, securities companies and Korea Securities Depository (KSD). Registration certificate issued by the FSS is used as a verification of the investor’s lawful identity.

The new electronic registration service is a significant improvement from the current paper-based registration, under which a foreign investor submits (through an agent financial institution) the registration application along with the supporting documents to the FSS and waits up to four days for the registration certificate. Under the new electronic service, the processing time for a new registration certificate is expected to be shortened to approximately four hours.

The FSS also plans to provide information on Korea’s investment procedures in English on the FSS Internet homepage (http://english.fss.or.kr/fsseng/index.jsp) beginning July 1, 2007. It will include explanations on Korea’s investor registration system, the registration procedure, and rules and regulations pertaining to investor registration. By providing easily accessible online information on investor registration in English, the FSS hopes to enhance global investors’ understanding of Korea’s investment climate and stimulate new interest in Korea’s stock markets.

The FSS is firmly committed to providing an effective, investor-friendly regulatory environment for global investors and will continue to take new initiatives to advance Korea’s stock markets (e.g., inclusion in the FTSE Developed Index).

* Please refer to the attached PDF for details.