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    FSC Unveils 5th Plan for Financial Hub Policy

    05 18, 2020
  • The FSC unveiled the 5th three-year plan for Korea's financial hub policy (2020-2022) on May 15.
    * Please refer to the attached PDF for details.


    Overview of Financial Regulatory Sandbox

    05 14, 2020
  • The FSC has been operating a financial regulatory sandbox program since April 1, 2019 to promote competition and innovation in the financial industry and provide more benefits to consumers.
    * Please refer to the attached PDF for details.


    Reporting Deadline Extended for Financial Companies' Overseas Branches

    05 13, 2020
  • The financial authorities decided on May 13 to grant an extension of reporting deadline until August 31 this year for financial companies’ overseas branches that face compliance burdens due to COVID-19.
    * Please refer to the attached PDF for details.

    FSC Announces Plans for MyData Businesses

    05 13, 2020
  • The FSC announced a schedule for demand survey and preliminary consulting for MyData businesses on May 13. As the revision of the Credit Information Use and Protection Act is scheduled to take effect on August 5, financial companies and fintechs planning to enter the MyData industry should gain approval from the FSC.
    * Please refer to the attached PDF for details.


    Government Prepares to Launch Key Industry Stabilization Fund

    05 12, 2020
  • The government decided to designate the airline and maritime shipping sectors as the key industries eligible to receive support through the key industry stabilization fund on May 12.
    * Please refer to the attached PDF for details.


    Household Loans, April 2020

    05 12, 2020
  • The outstanding balance of household loans in all financial sectors rose KRW2.8 trillion (up 5.4% year-on-year) at the end of April 2020.

    * Please refer to the attached PDF for details.


    Vice Chairman Urges Preventive Measures as Banks Ready to Accept Loan & Relief Payment Applications

    05 12, 2020
  • FSC Vice Chairman Sohn Byungdoo held a financial risk assessment meeting on May 12, and discussed the second phase financial support program for small merchants and the preparations for emergency relief payments and key industry stabilization fund.
    * Please refer to the attached PDF for details.


    Financial Data Exchange Platform Launched

    05 11, 2020
  • FSC Vice Chairman Sohn Byungdoo attended a launch event of the financial data exchange platform on May 11.
    * Please refer to the attached PDF for details.


    2020 Online Korea Fintech Week to Start May 28

    05 11, 2020
  • The FSC will hold the 2020 Online Korea Fintech Week from May 28. With the theme of "Fintech for Open Innovation," this year's virtual expo will feature special information sessions, virtual exhibitions and an online job fair.
    * Please refer to the attached PDF for details.


    FSC's Revision Proposal Designates 7 Key Industries for Key Industry Bailout Fund

    05 06, 2020
  • The FSC announced revisions to the enforcement decree of the Korea Development Bank Act on May 6, which designate seven specific industries to be eligible for the key industry bailout fund and establish necessary provisions for the fund’s operation.
    * Please refer to the attached PDF for details.