Financial Investment Services and Capital Markets Act

About this document

This is the consolidated English text of Korea's Financial Investment Services and Capital Markets Act (자본시장과 금융투자업에 관한 법률), incorporating all amendments effective August 4, 2026 (Act No. 21324). The Act is the foundational statute governing financial investment services, securities issuance and disclosure, market infrastructure, and investor protection in Korea's capital markets. Provisions already promulgated but not yet in force — including the new IPO advance-demand and pre-subscription rules (Articles 119-3 to 119-5) and the wholly amended Article 166 — are included and clearly marked with their enforcement dates.

This translation is produced by H&S Partners, a licensed Korean law firm with deep expertise in Korean financial regulation, ensuring legal-grade accuracy and authoritative English rendering of technical regulatory language.

Coverage

• Financial investment business licensing and conduct requirements
• Securities issuance, registration, and public disclosure
• Collective investment schemes (funds) and asset management
• Derivatives trading and regulation
• Capital market infrastructure (exchanges, CCPs, depositories)
• Insider trading and market manipulation prohibition
• Investor protection and dispute resolution
• FSC and FSS supervisory and enforcement powers

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Who this is for

This document is essential reading for compliance officers at global investment banks, international law firms advising on Korean capital market transactions, asset managers operating in or considering entry to Korean markets, and fintech companies seeking regulatory clarity on Korean financial services law.