YouTube channel operators for paid stock investment tips must register with authorities as a quasi-investment advisory service by the end of July, according to the Financial Supervisory Service (FSS) on Thursday.
Those who do not follow the guideline will be subject to a jail sentence of maximum one year or fine of up to 30 million won ($26,000), the financial regulator said.
YouTube and other online stock investment channels are categorized as investment and quasi-investment advisory business and thus must be registered under Korean laws, if they are directly paid for the service from subscribers or give one-to-one consulting services.
Operators who receive only advertising fees or occasional donations, not considered as a quid-pro-quo for their consulting service or investment information, are allowed to continue their channels without registration.
By Lee Ha-yeon
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