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Vice Chairman Emphasizes Importance of Effective Implementation of COVID-19 Financial Support

    Vice Chairman Emphasizes Importance of Effective Implementation of COVID-19 Financial Support

    March 27, 2020
  • FSC Vice Chairman Sohn Byungdoo held a meeting on March 27 via conference call to examine the implementation of the government's COVID-19 emergency support package and financial market stabilization measures.
    * Please refer to the attached PDF for details.


  

KAIST Selected as Digital Finance Education Provider for 4 Years

    KAIST Selected as Digital Finance Education Provider for 4 Years

    March 27, 2020
  • The Financial Services Commission and the Seoul Metropolitan Government announced on March 25 that the Korea Advanced Institute of Science and Technology (KAIST) along with its consortium members have been chosen as the designated digital finance education provider.
    * Please refer to the attached PDF for details.


  

Government Expands Young Adult Loan for Rent Payments to Boost Financial Inclusiveness

    Government Expands Young Adult Loan for Rent Payments to Boost Financial Inclusiveness

    March 26, 2020
  • The FSC announced on March 26 an increase of KRW3 trillion for the young adult loan for rent payments from the previously available amount of KRW1.1 trillion to KRW4.1 trillion.
    * Please refer to the attached PDF for details.


  

Financial Authorities and Associations Join Hands for Effective Provision of COVID-19 Support

    Financial Authorities and Associations Join Hands for Effective Provision of COVID-19 Support

    March 25, 2020
  • The leaders of the FSC and the FSS along with the representatives of all financial sector associations and federations held a meeting on March 25, and signed a memorandum of agreement to effectively deliver the COVID-19 financial support package.
    * Please refer to the attached PDF for details.


  

Measures to Stabilize Financial Markets

    Measures to Stabilize Financial Markets

    March 24, 2020
  • The government unveiled the financial market stabilization measures on March 24 to help provide sufficient liquidity to businesses and deploy market stability tools to absorb shocks in the financial markets amid the spread of COVID-19.
    * Please refer to the attached PDF for details.


  

Reverse Mortgage Age Requirement to be Lowered

    Reverse Mortgage Age Requirement to be Lowered

    March 24, 2020
  • The revisions to the Enforcement Decree of the Korea Housing Finance Corporation Act were approved at a cabinet meeting on March 24.
    * Please refer to the attached PDF for details.


  

Financial Regulators and Banks Agree to Closely Cooperate on COVID-19 Financial Support

    Financial Regulators and Banks Agree to Closely Cooperate on COVID-19 Financial Support

    March 23, 2020
  • The FSC and the FSS along with the Korea Federation of Banks and its member institutions held a meeting on March 23, and signed a memorandum of agreement to closely cooperate in the provision of the COVID-19 financial support programs.
    * Please refer to the attached PDF for details.


  

Government Issues Investor Alert for P2P Lending Products

    Government Issues Investor Alert for P2P Lending Products

    March 23, 2020
  • With the Act on Online Investment-linked Financing scheduled to take effect on August 27, 2020, the volume of peer-to-peer lending has continued to grow as well as its default rate.
    * Please refer to the attached PDF for details.


  

FSC Designates 7 Additional Financial Solutions for Regulatory Sandbox

    FSC Designates 7 Additional Financial Solutions for Regulatory Sandbox

    March 23, 2020
  • The FSC designated seven additional financial solutions as 'innovative financial services' to be included in the regulatory sandbox program on March 20, 2020. The FSC has designated a total of 93 'innovative financial services' since the launching of the regulatory sandbox on April 1, 2019.
    * Please refer to the attached PDF for details.


  

FSC Chairman Holds Meeting on Financial Market Stabilization Measures

    FSC Chairman Holds Meeting on Financial Market Stabilization Measures

    March 22, 2020
  • FSC Chairman Eun Sung-soo convened a meeting on March 22 prior to the government's emergency economic meeting scheduled later in the week.
    * Please refer to the attached PDF for details.