South Korean financial authorities will strengthen regulation of offshore perpetual contract platforms involving the Korean market

Odaily report: South Korea's Financial Services Commission and Financial Supervisory Service will strengthen monitoring of offshore platforms that offer perpetual contracts related to Korean stocks and stock indices. If illegal business activities are discovered, such as soliciting Korean residents to register through referral codes or collecting commissions, regulators will report them to law enforcement agencies and assess the impact of the relevant overseas products on South Korea's domestic stock market. Regulators also plan to communicate with major overseas platforms that offer perpetual contract products linked to South Korea's domestic market, requiring them to cooperate with regulators and ensure that their operations do not violate South Korean law. (YNA)