ImportantSouth Korean Financial Authorities to Strengthen Supervision of Offshore Perpetual Contract Platforms

The Financial Services Commission and the Financial Supervisory Service of South Korea will enhance monitoring of offshore platforms that trade perpetual contracts linked to South Korean stocks and stock indices. If any illegal business activities are identified, such as soliciting South Korean residents to register via referral codes or charging commissions, the regulatory authorities will take a firm stance, including reporting such activities to law enforcement agencies. Concurrently, the regulators will assess whether such overseas products have impacted South Korea's domestic stock market. In addition, the authorities plan to communicate with major overseas platforms that offer perpetual contract products pegged to South Korea's domestic market, requiring them to cooperate with supervision to ensure their operations do not violate South Korean laws.

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