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    FSC Approves Revised Rules on Misconduct in Financial Services

    April 16, 2020
  • The FSC decided to adopt the revised rules and regulations for the examination and sanctions on financial institutions on April 16 as a follow-up measure to the plans to improve the rules on exemption for misconduct in financial services announced in the previous week.

    * Please refer to the attached PDF for details.


    Application Opens for Participating Businesses to 2020 Korea Fintech Week

    April 13, 2020
  • The application for the 2020 Korea Fintech Week is open from April 13 to 24 for prospective participants wishing to showcase their fintech products and innovative services via virtual exhibition halls.
    * Please refer to the attached PDF for details.


    Authorities Recommend Flexibility in Accounting Standards amid COVID-19 Crisis

    April 13, 2020
  • The FSC and the FSS issued a guidance on April 10 recommending companies and auditors against a mechanical application of IFRS 9 standards for determining their expected credit losses (ECLs) during the COVID-19 crisis.
    * Please refer to the attached PDF for details.


    Financial Regulators Issue Investor Alert on COVID-19 Related Stocks

    April 10, 2020
  • The financial regulators issued an investor alert on April 10 on a set of 69 stock items related to COVID-19 including masks, test kits, vaccines and other sanitary and disease prevention items due to high fluctuations in prices and concerns over possible damages to investors.

    * Please refer to the attached PDF for details.


    Fintech Innovation Fund to Invest More than KRW85.5 billion in Fintech Firms in 2020

    April 09, 2020
  • The FSC announced on April 9 that the fintech innovation fund created in December 2019 will be put to use with direct investment expected in the amount of KRW20 billion in April this year.

    * Please refer to the attached PDF for details.


    Financial Authorities Work to Ensure Strong Support for Corporate Bond Issuance

    April 09, 2020
  • FSC Vice Chairman Sohn Byungdoo held a meeting on April 9 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.


    Strengthening Support for Vulnerable Debtors

    April 08, 2020
  • The government unveiled its plans to strengthen support for vulnerable debtors at the 4th Crisis Management Meeting held on April 8.
    * Please refer to the attached PDF for details.


    Household Loans, March 2020

    April 08, 2020
  • The outstanding balance of household loans in all financial sectors rose KRW9.1 trillion (up 5.6% year-on-year) at the end of March 2020.
    * Please refer to the attached PDF for details.


    Plans to Improve Rules on Exemption for Misconduct in Financial Services

    April 08, 2020
  • The FSC and the FSS announced on April 7 the plans to improve the rules on exemption for sanctions on misconduct in financial services.
    * Please refer to the attached PDF for details.

    Current Situation in Financial Markets and Government's Policies

    April 06, 2020
  • The FSC announced on April 6 its assessment of the current situation in the financial markets, and provided an explanation on the government's policies aimed at helping businesses and markets amid the COVID-19 crisis.
    * Please refer to the attached PDF for details.