South Korea Banking & Financial Services Q4 2018
South Korea has a large and well-developed financial sector, which is dominated by the country's giant conglomerates,known as chaebols. A robust and conservative regulatory framework helped maintain stability during the 2008 financial crisis,though the focus has now largely shifted to deregulation in an attempt to stimulate development and competition in the localfinancial sectors. New flexibility could encourage new foreign entrants, while also enabling domestic firms to diversify and seekprofitable opportunities overseas. Geo-political risks from North Korea and efforts to curb elevated household debt are the mainshort-term risks to further expansion in the sector.
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