Chairman Kim Byoung Hwan of the Financial Services Commission held a media briefing on December 2 and introduced the government's plans for seeking regulatory improvements in the Financial Investment Services and Capital Markets Act (FSCMA) to strengthen protection for general shareholders. The announced plan includes increasing information transparency and the disclosure duty of company boards, abolishing the current rule on the calculation of merger prices for M&As taking place between affiliated business entities, requiring an external evaluation and disclosure of evaluation results for all M&As in principle, and other regulatory reform measures intended to provide better protection for general shareholders in split-off IPO of listed companies.