News

Finance Services Commission (FSC) of Korea has come up with the restructuring plan to split the Korea Stock Exchange (KRX) and KOSDAQ (Trading platform for Small Medium Size Companies).

KRX Union representing the Korea Stock Exchange employees affiliated with KFCLU held a press conference in front of the Finance Service Commission Kwanghwamoon street in Seoul today. 22nd June 2015, insisting the FSC to withdraw the proposed restructuring plan.

Lee Dong-Ki, President of the KRX union said; the proposed split will lead to high transaction costs for start-ups and small and medium scale companies; resulting in uncontrollable market instability forcing innocent stakeholders to bear the burdens.

Ambiguity of the Korean government’s Economic Democratization and Creative-Economy policies was questioned by Lee Yun-Kyung President of the KFCLU at the press conference, and insisted that the FSC should carry out its regulatory function effectively.

UNI Finance extends solidarity support with the KFCLU and wrote to the Deputy Prime Minister Mr Choi Kyung-Hwan    requesting for his intervention to initiate a dialogue between the FSC and stake holders including the trade unions to review the unilateral restructuring plan which is expected to bring in serious consequences to the Korean Stock Exchange.

KRX union is planning to hold a rally on Friday, June 26th in front of FSC office to support their campaign to stop the proposed restructuring plan.

Refer the Related File below Letter addressed to DPM Mr Choi Kyung-Hwan