Korea lowers hurdle for foreign fund managers

South Korea’s Securities and Futures Commission is likely to reduce the capital requirements for foreign fund managers seeking to establish an onshore investment trust and consulting management (ITCM) business, according to regulators.At present, any foreign company seeking an ITCM license needs W7 trillion ($6.16 billion) in assets under management. The SFC is likely to reduce this to W5 trillion, says Lim Young-hwan, head of asset management affairs team in the Financial Supervisory…