South Korea FSC Chair: Exchange Ownership Cap Not Targeting Specific Firms

The shift from registration renewal to licensing is the substantive change here, not the ownership cap itself: licensing implies ongoing supervisory obligations and a higher bar for market entry, which raises compliance costs across the sector rather than singling out any one operator. The chairman's insistence that the cap is not firm-specific is a signal that the drafting is still contested, since ownership limits touch the control structures of the largest domestic venues. Whether the licensing regime and the cap advance together, or the ownership question gets deferred, is the open question worth watching as the bill moves.