LEGALBackground
New rule exempts two brokerage types from foreign business license
The Ministry of Commerce issued a regulation specifying that two types of brokerage or agency businesses are exempt from requiring a foreign business license under the Foreign Business Act. The exemptions cover acting as an agent for derivatives trading where the underlying asset is not regulated by the Derivatives Act, and acting as an agent for over-the-counter derivatives contracts settled by exchange rate or interest rate fluctuations.
Context — no action needed.