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The Evolution of Suitability Principles

Korean Financial Planning Professional Sunho KimBy Sunho Kim, CFP

South Korea’s suitability principle was established by the Financial Investment Services and Capital Markets Act, which was enacted in August 2007, and implemented in February 2009. The new principle calls for investors to be classified into ordinary or professional investors, and requires that investment recommendations are deemed suitable for an ordinary investor in light of his or her investment purpose, status of property and experience.

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