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    FSC Holds 2nd Consultative Body Meeting on Digital Finance

    September 24, 2020
  • Vice Chairman Sohn Byungdoo presided over the 2nd consultative body meeting on digital finance on September 24 and discussed the current status of platform businesses entering the financial sector and their impact on the market as well as ways to improve the personal authentication and identity verification system in financial services.
    * Please refer to the attached PDF for details.


    FSC Adds 5 More 'Innovative Financial Services' to Regulatory Sandbox

    September 24, 2020
  • The FSC added five more 'innovative financial services' to the regulatory sandbox on September 23, bringing the total number of designated services to 115 since the sandbox program was first launched on April 1, 2019.
    * Please refer to the attached PDF for details.


    FSC and FSS Sign MOU with Bank of Thailand

    September 24, 2020
  • The FSC and the FSS signed a Memorandum of Understanding (MOU) with the Bank of Thailand on comprehensive cooperation in the areas related to the financial sector and innovation in financial services.
    * Please refer to the attached PDF for details.


    KRW1.5 Trillion in Special Guarantees for SMEs Made Available by 4th Supplementary Budget

    September 23, 2020
  • The FSC announced the availability of KRW1.5 trillion more in special guarantees for SMEs suffering from pandemic-induced economic downturn as the National Assembly passed the 4th supplementary budget.
    * Please refer to the attached PDF for details.


    Vice Chairman Pledges to Stay Alert for Potential Risks in Financial Markets

    September 23, 2020
  • Vice Chairman Sohn Byungdoo held the 22nd financial risk assessment meeting via teleconference on September 23 and discussed market conditions and issues concerning household loans, soundness of financial institutions and corporate credit situation with relevant authorities.

    * Please refer to the attached PDF for details.


    Civil Penalties to be Introduced on Unfair Trading Activities

    September 18, 2020
  • The government seeks to introduce penalties on unfair trading activities of up to twice the amount of undue profits generated by engaging in unfair trading activities as a relevant revision bill to the Financial Investment Services and Capital Markets Act was proposed at the National Assembly.
    * Please refer to the attached PDF for details.


    Insurance Companies to Begin Offering Policies for Autonomous Vehicles in September

    September 17, 2020
  • The FSC announced on September 17 that twelve insurance companies will begin to offer policies specifically covering autonomous vehicles for commercial purposes from the end of September this year.
    * Please refer to the attached PDF for details.


    Financial Groups to Provide Integrated Disclosures

    September 16, 2020
  • The FSC announced the availability of integrated disclosures by financial groups on September 16.
    * Please refer to the attached PDF for details.


    Government Announces Improvements to Emergency Loan Program for Small Merchants

    September 15, 2020
  • Vice Chairman Sohn Byungdoo presided over the 21st financial risk assessment meeting via teleconference on September 15, and discussed COVID-19 emergency support measures and follow-up plans for the Korean New Deal fund.
    * Please refer to the attached PDF for details.


    FSC Holds 1st Consultative Body Meeting on Digital Finance

    September 10, 2020
  • The FSC launched a public-private joint consultative body on digital finance, composed of leaders and experts representing financial sectors, big techs, fintechs and major financial labor unions, and held a kick-off meeting on digital finance via teleconference on September 10.

    * Please refer to the attached PDF for details.