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Financial Authorities to Streamline Investment Product Sign-up Process
Commercial Services · Financial Publishing/Services · yonhap_finance · 2026-09-03
South Korea's financial regulator plans to cut the time required to sign up for investment products by half by reducing paperwork and redundant signatures.
What Happened
Regulatory Reform: The Financial Supervisory Service (FSS) is introducing measures to simplify the sign-up process for investment products, aiming to reduce the time spent from one hour to approximately 30-40 minutes. This initiative addresses long-standing complaints about excessive paperwork and formalistic disclosure requirements.
Reducing Documentation: The plan involves reducing the number of required documents from 17 to about 10 and cutting the number of mandatory handwritten signatures from 17 to 3-6. By consolidating similar documents and focusing on essential information, the regulator aims to significantly ease the burden on consumers.
Process Efficiency: The FSS will allow non-face-to-face completion of investor profile forms and consolidate multiple investor assessments into a single process for simultaneous product sign-ups. Additionally, product disclosure forms will be redesigned to prioritize key information for better consumer understanding.
Implementation Timeline: Financial institutions are encouraged to establish internal control procedures to eliminate unnecessary document fields. Following a preparation period for system upgrades and self-regulation adjustments, the new measures are scheduled to take effect starting next year.