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    FSC to Work on Preventing Economic Shocks and Managing Financial Market Risks

    November 26, 2020
  • Vice Chairman Doh Kyu-sang held the 30th financial risk assessment meeting via teleconference on November 26 to check the implementation of the COVID-19 emergency financial support programs.
    * Please refer to the attached PDF for details.


    Deferment of Principal Payment for Vulnerable Debtors to be Available for Six More Months

    November 26, 2020
  • The FSC and other relevant institutions decided to make available the deferment of principal payment programs for vulnerable debtors for six more months until the end of June 2021 due to concerns about a protracted pandemic situation.
    * Please refer to the attached PDF for details.


    FSC Holds Meeting on Future Outlook and Competitiveness of Financial Industry

    November 25, 2020
  • The FSC held a meeting on the future outlook and competitiveness of the financial industry chaired by Vice Chairman Doh Kyu-sang on November 25. A new twelve-member expert review committee has been set up to lead the future outlook and competitiveness assessment of the financial industry.
    * Please refer to the attached PDF for details.


    FSC Designates 5 More ‘Innovative Financial Services’ for Regulatory Sandbox

    November 19, 2020
  • The FSC added five more financial solutions to the financial regulatory sandbox on November 19, bringing the total number of 'innovative financial services' to 120 since launching the financial regulatory sandbox program on April 1, 2019.
    * Please refer to the attached PDF for details.


    FSC to Implement a New Regulatory Regime for Financial Benchmarks

    November 18, 2020
  • The FSC enacted an enforcement decree and a supervisory regulation to provide details for the management of financial benchmarks as the Financial Benchmark Act (hereinafter "the Act") will go into effect on November 27, 2020.
    * Please refer to the attached PDF for details.


    Government to Increase Amount of IPO Shares Available for Retail Investors

    November 18, 2020
  • The government announced measures intended to ensure active participation of institutional investors and autonomy of the underwriters in an IPO process, while allowing more participation of retail investors.
    * Please refer to the attached PDF for details.


    Government Lowers Statutory Cap on Lending Rates to Reduce Debt Burden on Low-income Borrowers

    November 16, 2020
  • The government plans to lower a statutory cap on lending rates from the current 24% to 20% to reduce debt servicing burden on low-income borrowers.
    * Please refer to the attached PDF for details.


    FSC Unveils Measures to Curb Credit Loans

    November 13, 2020
  • Vice Chairman Doh Kyu-sang presided over the 29th financial risk assessment meeting on November 13. At the meeting, Vice Chairman Doh unveiled the government's plans to more effectively manage household debt and discussed the implementation of the COVID-19 financial support programs.

    * Please refer to the attached PDF for details.


    4th Digital Finance Meeting Outlines Three Key Principles for MyData Industry

    November 12, 2020
  • Vice Chairman Doh Kyu-sang presided over the 4th consultative body meeting on digital finance on November 12 and laid out the following three key principles for the MyData industry-(a) guaranteeing consumer rights to data ownership, (b) improving safety and scalability of MyData services and (c) creating a cooperative ecosystem for all stakeholders.
    * Please refer to the attached PDF for details.


    Household Loans, October 2020

    November 11, 2020
  • The outstanding balance of household loans in all financial sectors rose KRW13.2 trillion from the previous month in October 2020 (up 7.1% year-on-year). The household loan balance increased KRW10.6 trillion in the banking sector and KRW2.5 trillion in the non-banking sector.
    * Please refer to the attached PDF for details.