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    Vice Chairman Discusses Importance of Banks' Capital Buffers to Support Real Economy

    June 30, 2020
  • Vice Chairman Sohn Byungdoo presided over the 10th financial risk assessment meeting on June 30 to assess the financial market conditions and monitor the progress in implementing the COVID-19 financial support.
    * Please refer to the attached PDF for details.


    FSC Holds Financial MyData Forum & Info Session on Licensing Procedures

    June 29, 2020
  • The FSC held a financial MyData forum on June 29 to facilitate discussions on the topic of "personal data meets finance and IT" and provide information about the licensing procedures for MyData businesses.
    * Please refer to the attached PDF for details.


    FSC Seeks Revisions to Credit Business Act to Tighten Rules on Illegal Predatory Lending

    June 29, 2020
  • The FSC introduced revisions to the Act on Registration of Credit Business and Protection of Finance Users to strengthen rules on illegal predatory lending on June 26.
    * Please refer to the attached PDF for details.


    Early Implementation of Basel III Credit Risk Framework

    June 29, 2020
  • The financial authorities announced that fifteen banks and eight bank holding companies will begin to gradually implement Basel III credit risk framework from the end of June 2020.
    * Please refer to the attached PDF for details.


    Personal Debt Purchase Program to Begin June 29

    June 25, 2020
  • Vice Chairman Sohn Byungdoo attended the launching of the Korea Asset Management Corporation's personal debt purchase program on June 25 and spoke about the importance of inclusive finance.
    * Please refer to the attached PDF for details.


    FSC Changes Rules on Liquid Asset Requirements for Repo Transactions

    June 24, 2020
  • The FSC revised the regulations on financial investment business on June 24, laying out specific liquid asset requirements for the sellers of repurchase agreements.
    * Please refer to the attached PDF for details.


    FSC Identifies D-SIBs for 2021

    June 24, 2020
  • The FSC identified a total of ten bank holding companies and banks as domestic systemically important banks (D-SIBs) for 2021.
    * Please refer to the attached PDF for details.


    Government Unveils Plans to Root Out Vishing

    June 24, 2020
  • The government unveiled its plans to root out vishing (or voice phishing) scams through close coordination between the financial, communications and investigative authorities on June 24.
    * Please refer to the attached PDF for details.


    FSC Chairman Highlights Importance of Building Mutual Trust between Start-ups and Investors

    June 23, 2020
  • FSC Chairman Eun Sung-soo attended the global start-up conference NextRise 2020 on June 23 in Seoul, and delivered congratulatory remarks. During his speech, Chairman Eun explained the government's policy to promote innovation in financial services while encouraging start-up entrepreneurs.
    * Please refer to the attached PDF for details.


    Government to Stamp Out Illegal Predatory Lending

    June 23, 2020
  • The government discussed ways root out illegal predatory lending at a meeting on anti-corruption policy led by President Moon Jae-in on June 22.
    * Please refer to the attached PDF for details.