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  • 03 / 31 / 2020
  • Loan Deferment Guidelines for SMEs and Small Merchants Hit by COVID-19

  • The FSC and the FSS along with all financial associations and federations adopted the guidelines for the loan extension of principal payments and the deferment of interest payments to be implemented beginning on April 1 for the SMEs and small merchants hit by COVID-19.
    * Please refer to the attached PDF for details.

  • pdf 200331 Loan Deferment Guidelines for SMEs and Small Merchants Hit by COVID-19.pdf
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  • 03 / 31 / 2020
  • Special Low-rate Loans to be Introduced for Small Merchants Hit by COVID-19

  • As a part of the KRW12 trillion financing support package for the small merchants hit by COVID-19, local banks will begin providing super low-rate loans in the amount of KRW3.5 trillion beginning on April 1.
    * Please refer to the attached PDF for details.

  • pdf 200331 Special Low-rate Loans to be Introduced for Small Merchants Hit by COVID-19.pdf
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  • 03 / 31 / 2020
  • Open Financial Database to be Introduced through Open API in April

  • The FSC will begin to make available to the public approximately 44 million counts of public financial data held by the FSC and nine other financial institutions through open API beginning in early April.
    * Please refer to the attached PDF for details.

  • pdf 200331 Open Financial Database to be Introduced through Open API in April.pdf
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  • 03 / 30 / 2020
  • Peer-To-Peer Lending Cap to be Lowered to Provide Investor Safeguards

  • The FSC and the FSS announced on March 27 their decision to lower the peer-to-peer lending cap through supervisory guidance from the previously set amount of KRW50 million to KRW30 million per year.
    * Please refer to the attached PDF for details.

  • pdf 200330 P2P Lending Cap to be Lowered to Provide Investor Safeguards.pdf
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  • 03 / 30 / 2020
  • Basel III Credit Risk Framework to be Adopted in Q2 2020

  • The FSC and the FSS announced the early adoption of the credit risk framework of Basel III beginning in late June this year, more than one year and a half prior to the Basel Committee on Banking Supervision's recommendation of adoption by 2022.
    * Please refer to the attached PDF for details.

  • pdf 200330 Basel III Credit Risk Framework to be Adopted in Q2 2020.pdf
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  • 03 / 27 / 2020
  • KAIST Selected as Digital Finance Education Provider for 4 Years

  • 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.

  • pdf 200327 KAIST Selected as Digital Finance Education Provider for 4 Years.pdf
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  • 03 / 26 / 2020
  • Government Expands Young Adult Loan for Rent Payments to Boost Financial Inclusiveness

  • 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.

  • pdf 200326 Government Expands Young Adult Loans for Rent Payments.pdf
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