South Korea's financial regulators and watchdogs have identified misconduct in the sale of risky China-linked structured products, such as Snowball structures linked to HSCEI and HSI, by some of the country's largest banks and brokers. These financial institutions reportedly misrepresented the nature of these products to retail investors, many of whom are retirees, leading to significant exposure to downside risk as the market dropped 20%. In a related development, South Korea's National Tax Service announced plans to develop a virtual asset management system aimed at preventing tax evasion through the use of virtual assets, targeting completion by 2025. This system is expected to enhance the government's ability to analyze and manage information on virtual asset transactions.