South Korea's Financial Services Commission (FSC) is set to complete a review of the country's commercial code by the end of 2024. The FSC is also closely monitoring market volatility, with its head, Kim, indicating that such volatility may persist in the near future. In a recent meeting, Kim urged officials to enhance market monitoring and warned that necessary measures would be taken if markets become unstable. Additionally, the FSC has fined Barclays and Citi for naked short selling, highlighting ongoing regulatory actions in the financial sector. The South Korean stock market is reportedly closer to achieving MSCI developed status, according to the regulator.