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    FSC Holds Meeting on Financial Market Conditions

    November 06, 2020
  • FSC Chairman Eun Sung-soo held a meeting to review the effects of the US presidential election on financial markets at home and abroad on November 6.
    * Please refer to the attached PDF for details.


    FSC Selects Two More Fintechs as Designated Agents to Provide Financial Services

    November 04, 2020
  • The FSC selected Finotek and Big Value as designated fintech firms on November 3, allowing them to provide financial services on behalf of Jeju Bank, BNK Kyongnam Bank and Kwangju Bank, and Pepper Savings Bank, respectively.
    * Please refer to the attached PDF for details.


    FSC to Work on COVID-19 Recovery, Cultivating Innovative Firms and Ensuring Market Stability

    November 03, 2020
  • The FSC held the 28th financial risk assessment meeting via teleconference on November 3, chaired by Secretary General Kim Tae-hyun. During the meeting, officials discussed the progress in implementing the COVID-19 financial support including the small merchant support program and market stabilization measures.
    * Please refer to the attached PDF for details.


    FSC Proposes New Rules on AML Requirements on Virtual Assets

    November 03, 2020
  • The FSC introduced a proposal of new rules to provide further details of anti-money laundering (AML) requirements on virtual assets under the revised Act on Reporting and Using Specified Financial Transaction Information, which is scheduled to go into effect on March 25, 2021.
    * Please refer to the attached PDF for details.


    Government to Closely Monitor Market Risks

    October 28, 2020
  • The FSC held the 27th financial risk assessment meeting via teleconference on October 28, chaired by Secretary General Kim Tae-hyun. During the meeting, officials discussed issues surrounding the US presidential election, recent trends in the corporate bond and CP markets, anticipated discontinuation of LIBOR and other market conditions.

    * Please refer to the attached PDF for details.


    FSC Introduces New Rules on Financial Consumer Protection

    October 27, 2020
  • The FSC introduced a proposal of an enforcement decree to provide details of the newly enacted legislation on financial consumer protection, which is scheduled to go into effect on March 25, 2021.

    * Please refer to the attached PDF for details.


    FSC Designates KFTC as Central Registry for P2P Transactions Data

    October 21, 2020
  • The FSC announced its decision to designate Korea Financial Telecommunications & Clearings Institute (KFTC) as the central registry responsible for storing and managing data on P2P financing transactions on October 21.

    * Please refer to the attached PDF for details.


    3rd Digital Finance Meeting Unveils Ways to Advance Open Banking System

    October 21, 2020
  • Vice Chairman Sohn Byungdoo presided over the 3rd consultative body meeting on digital finance on October 21 and introduced ways to further advance the open banking system and discussed concerns of both fintechs and big techs amid a rapidly changing digital environment.
    * Please refer to the attached PDF for details.


    Vice Chairman Stresses Importance of Steady Financial Support for Small Businesses

    October 20, 2020
  • Vice Chairman Sohn Byungdoo held the 26th financial risk assessment meeting via teleconference on October 20 to discuss the implementation status of the COVID-19 emergency financial support programs.
    * Please refer to the attached PDF for details.


    FSC Holds Kick-off Meeting to Root Out Unlawful Trading Activities in Stock Markets

    October 19, 2020
  • Vice Chairman Sohn Byungdoo held a kick-off meeting of the task force on the prevention of unlawful and unfair trading activities in stock markets on October 19. The task force will operate until the end of March 2021 and regularly report its implementation status on a monthly basis.
    * Please refer to the attached PDF for details.