[Yonhap Infomax] "Investigations of Unfair CB Trade to Strengthen...Issuance Restrictions Lead to Worries About Funding Crunch"

Yonhap Infomax reported on a comment made by Hyun Seung-A, an attorney at the law firm of Lee & Ko, at the “Seminar on Enhancing Fairness and Transparency in the Convertible Bond Market” held on July 20.  The seminar was hosted by the Korea Exchange and the Capital Market Research Institute and sponsored by the Financial Services Commission and the Financial Supervisory Service.  At the panel discussion, Mr. Hyun noted, "when we look at convertible bond transactions that have been made recently, I am in favor of strengthening unfair disclosure rules” but cautioned that “we need to be careful about limiting the issuance limit."  He further added, "we need to take into account the market's fatigue with excessive regulations, and therefore, should also consider whether there is an imbalance when compared to capital increase transactions."