Korean Law in English
Laws › Foreign Exchange Transactions Act › CHAPTER II FOREIGN EXCHANGE AGENCIES

Foreign Exchange Transactions Act — Article 11 (Supervision of Business and Regulation of Soundness)

외국환거래법 제11조

This English translation is based on the Korean text effective 2021-09-16. The Korean law has since been amended (current version effective 2026-01-02) — check the Korean original.

(1) The Minister of Economy and Finance may supervise business of a foreign exchange agency, etc. (including its business office located in a foreign country; hereafter in this Article the same shall apply), and may issue orders necessary for such supervision.

(2) Where it is deemed necessary for maintaining stability in the foreign exchange market and soundness of foreign exchange agencies, etc., the Minister of Economy and Finance may impose necessary restrictions on the raising and operation of foreign currency, such as determining the asset-liability ratio of foreign currency by foreign exchange agencies, etc. In such cases, detailed standards for such restrictions shall be prescribed by Presidential Decree.[This Article Wholly Amended on Jan. 30, 2009]

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