Press Releases - Financial Services Commission

Press Releases

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Nov 27, 2025

Guidelines on Omnibus Account Provided to Facilitate Domestic Stock Investment by Foreign Investors

The Financial Services Commission announced the availability of guidelines on the use of omnibus account for foreign investors on November 27. Background With the introduction of omnibus account in 2017 and the abolishment of the T+2 transactions reporting duty for omnibus account holders in 2023, the FSC has been making continuous efforts to improve the convenience of transactions for foreign investors. However, in various communications with overseas investors, it has been pointed out that the current eligibility requirement placed on omnibus account holders (foreign financial investment businesses) remains too restrictiveand that there are no guidelines on omnibus account to facilitate its usage. In this regard, in April 2025, the FSC, along with the Financial Supervisory Service (FSS) and the Korea Financial Investment Association (KOFIA), granted a regulatory exemption under the financial regulatory sandbox program to assist a domestic securities firm to form a partnership with an overseas small- or medium-sized financial investment business and to enable the latter to open an omnibus account with the domestic securities firm. Through this, the first omnibus account for foreign investors has been opened in August 2025 (Hana Securities-Emperor Securities), and other securities businesses (Samsung Securities and Yuanta Securities) are also following suit through the regulatory exemption program (designated in September 2025). In addition, after taking into account various opinions and questions raised by domestic securities businesses, standing proxies, and foreign institutional investors, the FSC and related organizations have jointly prepared guidelines on the use of omnibus account for foreign investors. Key Details The guidelineson the use of omnibus account for foreign investors provide step-by-step procedural details regarding (a) the opening of omnibus account, (b) allocation of shareholder rights, (c) reporting duty, and (d) the management of internal con
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Nov 20, 2025

Industrial Bank of Korea Gains Banking License from Polish Financial Supervision Authority (KNF)

The Financial Services Commission announced that the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego, or KNF) granted a banking license to the Poland subsidiary of the Industrial Bank of Korea (IBK) on November 19 (Central European Time). This follows KNFs issuance of the preliminary license authorizing the establishment of IBKs subsidiary in Poland in November 2024. The final approval comes two and a half years after the IBK first set up a local office in Wroclaw, Poland in May 2023. The FSC has been making continuous efforts to boost financial cooperation with foreign financial authorities,and the IBKs gaining of a banking license in Poland demonstrates the effectiveness of global financial cooperation in facilitating overseas expansion of Korean financial companies. From the time the IBK first applied for the establishment of a subsidiary in Poland in March 2024, the FSC had high-level meetings with its Polish counterpart (KNF) on two different occasions and requested strong support for Korean banks operation in Poland. This led to the signing of a memorandum of understanding (MOU) in November 2024 and the strengthening of bilateral cooperation. Since most of non-European financial companies tend to enter the EU market by establishing a subsidiary (EU headquarter) in London or Frankfurt, the IBKs Poland subsidiary will become the first and only non-European bank with its EU headquarter in Poland. As the only Korean bank subsidiary established in Poland overseeing its overall EU operations, in accordance with EUs single passport rights, the IBKs Poland subsidiary will not only be able to operate in Central European countries, such as the Czech Republic, Hungary, and Slovakia, but serve as a bridge to expand its business operations to Western European countries, such as France and Germany. At first, the IBKs Poland subsidiary is expected to strengthen the provision of financial support made available to Korean SMEs doing business in Eastern Euro
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Nov 17, 2025

FSC Proposes Measures to Improve Corporate Disclosures to Enhance Market Accessibility and Shareholder Rights

The Financial Services Commission, the Financial Supervisory Service, and the Korea Exchange have been working to make improvements to corporate disclosure rules since there have been growing demands from both domestic and overseas investors in seeking information about listed companies.However, it has been suggested that further improvements are needed in order to make capital markets more accessible for global investors and to enhance information provision to make it easier for shareholders to better exercise their rights. In this regard, the FSC, FSS, and KRX have prepared the following measures to strengthen rules on English disclosures and the disclosure of information on annual general meeting of shareholders (AGMs) to help enhance market accessibility and improve shareholder rights. Key Measures Expanding Application of English Disclosure to Boost Market Accessibility a) Mandatory English disclosure: Entering phase II and preparing for phase III Currently, large KOSPI-listed companies with assets worth KRW10 trillion or more (111 companies as of end-2024) are submitting disclosures in English on material information (26 key items), such as information pertaining to corporate governance structure or reorganization, settlement of accounts, and securities issuance, within three business days of filing their original disclosures in Korean with the KRX (effective from January 2024). Starting from May 1, 2026, the mandatory English disclosure requirement will enter into a second phase. The scope of KOSPI-listed companies subject to the mandatory English disclosure requirement will be expanded to those with assets worth KRW2 trillion or more (265 companies as of end-2024). The disclosure items subject to the mandatory English disclosure will also be expanded to all disclosure items required by KRX rules, including material information in its entirety (55 items), fair disclosure, and inquired disclosure. The time required for companies to submit English disclosures a
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Nov 13, 2025

Household Loans, October 2025

In October 2025, the outstanding balance of household loans across all financial sectors increased KRW4.8 trillion (preliminary), rising at a faster pace compared with the previous month (up KRW1.1 trillion). (By Type) Home-backed mortgage loans rose KRW3.2 trillion, growing at a slower pace compared with the previous month (up KRW3.5 trillion). Banks (up KRW2.5 trillion up KRW2.1 trillion) saw the pace of growth decelerating, while nonbanks (up KRW1.1 trillion up KRW1.1 trillion) maintained a similar pace of growth from the previous month. Other types of loans edged back up KRW1.6 trillion from the decline of KRW2.4 trillion seen a month ago due mainly to the rise in credit loans (down KRW1.6 trillion up KRW0.9 trillion). (By Sector) In October 2025, household loans in the banking sector rose KRW3.5 trillion, growing at a faster pace compared with the previous month (up KRW1.9 trillion). Banks own mortgage loan products (up KRW1.4 trillion up KRW1.1 trillion) and policy-based loans (up KRW1.0 trillion up KRW0.9 trillion) both saw the pace of growth decelerating from a month ago. Other types of loans (down KRW0.5 trillion up KRW1.4 trillion) in the banking sector shifted back up from the decline seen in the previous month. In the nonbanking sector, household loans grew KRW1.3 trillion, turning back up from the decline of KRW0.8 trillion seen a month ago. Insurance companies (down KRW0.3 trillion up KRW0.1 trillion) and specialized credit finance businesses (down KRW1.1 trillion up KRW0.2 trillion) saw the volume of household loans shifting back up. Mutual finance businesses (up KRW1.0 trillion up KRW1.1 trillion) saw the pace of growth accelerating, while savings banks (down KRW0.5 trillion down KRW0.2 trillion) saw a slower pace of decline compared with the previous month. (Assessment) In October 2025 (up KRW4.8 trillion), the pace of household loan growth decelerated from the same month a year ago (up KRW6.5 trillion) but accelerated from the previous month (up KR
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Oct 22, 2025

Life Insurance Policyholders Will be Able to Convert Death Benefits into Lifetime Access in Retirement

The Financial Services Commission held a taskforce meeting on October 22 to have a final review of the preparatory work prior to the launch of the products enabling life insurance policyholders to have access to death benefits early in their retirement. From October 30, life insurance policyholders will be able to tap into death benefits as retirement income. On October 23, eligible policyholders will be contacted individually and receive notifications from the following five life insurance companiesSamsung, Hanwha, Kyobo, Shinhan Life, and KB Life. As of the end of September 2025, the total number of eligible life insurance contracts stood at 414,000 with about KRW23.1 trillion in benefits. By January 2, 2026, the rest of life insurers will follow suit and individually contact eligible policyholders for notification a week prior to the scheduled launch. This will bring up the total number of eligible life insurance contracts to 759,000 with the amount of benefits expanding to KRW35.4 trillion. Since the newly introduced products are intended for policyholders aged 55 years old and over, application will only be available face-to-face with tellers via customer service centers or branch offices. To make service experience more convenient, insurance companies will provide simulations and comparisons demonstrating individual customers expected amount of benefits based on the customers chosen ratio and period for converting death benefits into lifetime access. Since the amount of policyholders lifetime access is determined by the amount of paid-in policy premiums, more senior policyholders are expected to receive greater amounts in lifetime access. Thus, policyholders are advised to choose the starting point and the duration of conversion based on individual circumstances. During the lifetime access conversion period, policyholders may choose to suspend or opt out entirely from the program early, and can also choose to reenter the program thereafter. The government plan
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Oct 16, 2025

Household Loans, September 2025

In September 2025, the outstanding balance of household loans across all financial sectors increased KRW1.1 trillion (preliminary), rising at a slower pace compared with the previous month (up KRW4.7 trillion). (By Type) Home-backed mortgage loans went up KRW3.6 trillion, growing at a slower pace compared with the previous month (up KRW5.1 trillion). Banks (up KRW3.8 trillion up KRW2.5 trillion) and nonbanks (up KRW1.3 trillion up KRW1.1 trillion) both saw the pace of growth decelerating. Other types of loans dropped KRW2.4 trillion, declining at a faster pace compared with the previous month (down KRW0.4 trillion) with credit loans falling at an expanded pace (down KRW0.3 trillion down KRW1.6 trillion). (By Sector) In September 2025, household loans in the banking sector rose KRW2.0 trillion, slowing down from the growth of KRW4.1 trillion a month ago. Banks own mortgage loan products (up KRW2.7 trillion up KRW1.4 trillion) rose at a slower pace, while policy-based loans increased at a similar level from a month ago (up KRW1.1 trillion up KRW1.1 trillion). Other types of loans (up KRW0.3 trillion down KRW0.5 trillion) in the banking sector shifted back down from the growth seen a month ago. In the nonbanking sector, household loans edged down KRW0.9 trillion, shifting back down from the growth of KRW0.6 trillion in the previous month. Insurance companies (down KRW0.5 trillion down KRW0.2 trillion) saw the pace of decline decelerating, while specialized credit finance businesses (down KRW0.2 trillion down KRW1.1 trillion) saw the pace of decline accelerating. Mutual finance businesses (up KRW1.2 trillion up KRW0.9 trillion) saw the pace of growth slowing down, while savings banks (up KRW0.03 trillion down KRW0.5 trillion) saw a decline from the growth seen a month ago. (Assessment) In September (up KRW1.1 trillion), household loans grew at a notably slower pace compared with the previous month (up KRW4.7 trillion) and the same month a year ago (up KRW5.4 trillion).
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Sep 30, 2025

KoFIU Unveils H1 2025 Survey Result on Virtual Asset Service Providers

The Korea Financial Intelligence Unit (KoFIU) conducted a survey on 25 registered virtual asset service providers (VASPs) to assess the current state of the domestic virtual asset market and keep relevant statistics up to date. Survey Overview (Respondents) 25 VASPs(17 exchange service providers and 8 custody and wallet service providers) (Survey Method) Data collected from VASPs (Period Covered) January 1, 2025 to June 30, 2025 Key Survey Findings for H1 2025 The price increases in virtual assets and expansion of market size observed into the second half of 2024 slowed down in the first half of 2025. Compared with the previous six-month period, the number of users eligible to trade (up 1.07 million or 11%) went up. However, average daily trading volume (down KRW0.9 trillion or 12%), total operating profits (down KRW134.8 billion or 18%), market capitalization (down KRW15.4 trillion or 14%), and total amount of deposits (down KRW4.5 trillion or 42%) all decreased. However, over the same six-month period, the coin-only exchange market saw growth in average daily trading volume (up KRW450 million or 286%) and market capitalization (up KRW366.5 billion or 298%), despite continuing market dominance by KRW-based exchange service providers. External transfers of virtual assets to the registered entities increased in terms of both travel rule transactions (up 4%) and to the whitelisted overseas entities and personal digital wallets (up 4%). The total size of virtual assets in custody and wallet services (down KRW0.7 trillion or 50%) declined significantly due to drops in base prices and their number of users (down 523 or 41%). * Please refer to the attached PDF for details.
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Sep 25, 2025

Capital Market Rule Change Proposed to Strengthen Treasury Stock Disclosure by Listed Companies

The Financial Services Commission issued a preliminary notice of rule changes regarding the Enforcement Decree of the Financial Investment Services and Capital Markets Act (FSCMA) and subordinate regulations on September 25. The proposed rule changes are intended to strengthen the disclosure duty of listed companies with regard to their acquisition and disposal of treasury stocks to promote the use of treasury stocks for the purpose of enhancing shareholder value. The revision proposal will enter a 40-day public comment period from September 26 to November 5. In 2024, a relevant rule change was made requiring listed companies to disclose their treasury stock holding status and future plan when the proportion of treasury stock holding is five percent or more of the total volume of stocks issued. Since then, the volume of treasury stocks being acquired or cancelled has increased significantly. In 2025, the volume of treasury stocks that have been cancelled in the January-August period (KRW18.8 trillion) has already surpassed the level (KRW13.9 trillion) seen in the twelve-month period a year ago. However, additional rule changes are deemed to be necessary as some listed companies fail to indicate their treasury stock holding status or merely resort to perfunctory reporting practices. Thus, the proposed rule changes will strengthen relevant rules on the disclosure of treasury stocks and establish a regulatory ground to impose aggravated penalties for recurrent rule-breaking to help promote the use of treasury stocks for the purpose of enhancing shareholder value for ordinary shareholders. Key Revision Details First, when the proportion of treasury stock holding is one percent or more of the total volume of stocks issued, listed companies will be required to disclose their treasury stock holding status and future plan twice a year. Under the current rules, the minimum threshold is set at five percent of the total volume of stocks issued, and companies are subject to the
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Sep 10, 2025

Household Loans, August 2025

In August 2025, the outstanding balance of household loans across all financial sectors increased KRW4.7 trillion (preliminary), rising at a faster pace compared with the previous month (up KRW2.3 trillion). (By Type) Home-backed mortgage loans increased KRW5.1 trillion, growing at a somewhat faster pace compared with the previous month (up KRW4.2 trillion). Banks (up KRW3.4 trillion up KRW3.9 trillion) and nonbanks (up KRW0.8 trillion up KRW1.3 trillion) both saw the pace of growth accelerating. Other types of loans dropped KRW0.4 trillion, declining at a slower pace compared with the previous month (down KRW1.9 trillion) as credit loans edged down at a slower pace (down KRW1.1 trillion down KRW0.3 trillion). (By Sector) In August 2025, household loans in the banking sector rose KRW4.2 trillion, growing at a faster pace compared with the previous month (up KRW2.8 trillion). Banks own mortgage loan products (up KRW2.2 trillion up KRW2.7 trillion) increased at an expanded level, while policy-based loans maintained a similar level of growth (up KRW1.2 trillion up KRW1.2 trillion). Other types of loans (down KRW0.6 trillion up KRW0.3 trillion) in the banking sector shifted back up from the decline a month ago. In the nonbanking sector, household loans grew KRW0.6 trillion, turning back up from the decline of KRW0.5 trillion in the previous month. Mutual finance businesses (up KRW0.4 trillion up KRW1.2 trillion) saw the pace of growth accelerating, while savings banks (down KRW0.3 trillion up KRW0.03 trillion) saw an increase from the decline a month ago. Insurance companies (down KRW0.4 trillion down KRW0.4 trillion) and specialized credit finance businesses (down KRW0.2 trillion down KRW0.2 trillion) maintained similar levels of decline compared with the previous month. (Assessment) In August (up KRW4.7 trillion), household loans grew at a notably slower pace compared with the same month a year ago (up KRW9.7 trillion) but expanded at a somewhat faster pace when compa
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Aug 13, 2025

Household Loans, July 2025

In July 2025, the outstanding balance of household loans across all financial sectors increased KRW2.2 trillion (preliminary), rising at a significantly slower pace compared with the previous month (up KRW6.5 trillion), with the volume of growth falling to the lowest level since March this year. (By Type) Home-backed mortgage loans increased KRW4.1 trillion, growing at a slower pace compared with the previous month (up KRW6.1 trillion). Banks (up KRW5.1 trillion up KRW3.4 trillion) and nonbanks (up KRW1.1 trillion up KRW0.7 trillion) both saw the pace of growth decelerating. Other types of loans decreased KRW1.9 trillion, edging back lower from the growth of KRW0.3 trillion in the previous month as credit loans, which has shown an upward movement recently, turned back lower (up KRW0.7 trillion down KRW1.1 trillion). (By Sector) In July, household loans in the banking sector rose KRW2.8 trillion, which has fallen significantly from the growth of KRW6.2 trillion a month ago. Banks own mortgage loan products (up KRW3.8 trillion up KRW2.2 trillion) and policy-based loans (up KRW1.3 trillion up KRW1.2 trillion) both expanded at slower paces. Other types of loans (up KRW1.1 trillion down KRW0.6 trillion) in the banking sector turned back lower from the growth a month ago. In the nonbanking sector, household loans went down KRW0.6 trillion, shifting back down from the growth of KRW0.3 trillion in the previous month. Mutual finance businesses (up KRW1.2 trillion up KRW0.3 trillion) saw the pace of growth slowing, while savings banks (down KRW0.04 trillion down KRW0.3 trillion) and insurance companies (down KRW0.3 trillion down KRW0.4 trillion) saw the pace of decline expanding. Specialized credit finance businesses (down KRW0.6 trillion down KRW0.2 trillion) saw the pace of decline decelerating from the previous month. (Assessment) Household loans in July this year grew at a notably slower pace both on-month and on-year basis due to the effects of the strengthened household
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Jul 09, 2025

All KOSPI-listed Firms to be Subject to Mandatory Corporate Governance Disclosure Duty from 2026

The Financial Services Commission held the 13th regular meeting on July 9 and approved a partial revision to the Korea Exchange (KRX) disclosure rules expanding the duty of mandatory disclosure of corporate governance report to all KOSPI-listed firms from 2026. In a comply or explain approach, the disclosure of corporate governance report allows businesses to open up their compliance status on key corporate governance principles. It was first introduced in 2017 as a voluntary disclosure and has moved to a mandatory disclosure system with more and more companies becoming subject to the mandatory disclosure duty. With the revision of the KRX disclosure rules, this mandatory disclosure of corporate governance report will be expanded to all KOSPI-listed companies from 2026. This will increase the number of firms being subject to the mandatory corporate governance disclosure duty from 541 now (those with total assets worth KRW500 billion or more, as of end-2024) to 842 (all KOSPI-listed firms, as of end-2024). With the expansion of corporate governance disclosure duty, it is expected that there will be more voluntary efforts taken by businesses to make improvements to their governance structures. It is also expected to help boost transparency in corporate management practices. To facilitate a seamless transition, the KRX and the Korea Listed Companies Association plan to provide support through (a) preparatory guidance, (b) one-on-one consultation, (c) on-the-job training for compliance officers and executive officers, and (d) regional information sessions and workshops. The FSC and the KRX will continue to work to ensure a seamless transition in expanding the duty of mandatory disclosure of corporate governance report. * Please refer to the attached PDF for details.
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Jul 09, 2025

FSC Announces Designation of Seven Non-holding Financial Groups for 2025

The Financial Services Commission held the 13th regular meeting on July 9 and designated seven non-holding financial groups for 2025 pursuant to the Act on the Supervision of Financial Conglomerates (the Act hereinafter). The designated entities are Samsung, Hanwha, Mirae Asset, Kyobo, Hyundai Motor, DB and Daou Kiwoom groups. The designation and supervisory system on non-holding financial groups aims to effectively oversee and manage risk contagion or concentration in financial groups. With the implementation of the Act from June 2021, the FSC has been designating non-holding financial groups every year. The seven selected entities this year satisfied all designation criteria under the Act. The selected entities will be subject to the following rules. a) Select a financial business entity representing the entire group after considering the investment relationship, total size of asset, capital, and so on, and report their selection to the Financial Supervisory Service. b) Periodically inspect and evaluate group-wide risks and prepare and follow their own internal control and risk management policy, and transparently disclose material information needed to ensure consumer protection and report to the authorities. c) Draw up capital adequacy ratio reflecting risk-weighted capital based on the risk assessment conducted by the financial authorities. d) The financial authorities will carry out a periodic assessment (every three years) on the risk and risk management status of non-holding financial groups. It is expected that the designation of non-holding financial groups will help these companies to more effectively monitor and manage group-wide risks on their own. * Please refer to the attached PDF for details.
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Jul 09, 2025

Household Loans, June 2025

In June 2025, the outstanding balance of household loans across all financial sectors increased KRW6.5 trillion (preliminary), rising at a faster pace compared with the previous month (up KRW5.9 trillion). (By Type) Home-backed mortgage loans rose KRW6.2 trillion, growing at a faster pace compared with the previous month (up KRW5.6 trillion). Banks saw an expanded pace of growth in mortgage loans (up KRW4.1 trillion up KRW5.1 trillion), while nonbanks saw a somewhat slower pace of growth from the previous month (up KRW1.5 trillion up KRW1.1 trillion). Other types of loans went up KRW0.3 trillion, growing at a slightly slower pace compared with the previous month (up KRW0.4 trillion), with credit loans rising at a slower pace (up KRW0.8 trillion up KRW0.7 trillion). (By Sector) In June, household loans in the banking sector rose at a faster pace compared with the previous month (up KRW5.2 trillion up KRW6.2 trillion). Banks own mortgage loan products grew at an expanded pace (up KRW2.5 trillion up KRW3.8 trillion), while policy-based loans grew at a slightly slower pace (up KRW1.6 trillion up KRW1.3 trillion). Other types of loans in the banking sector rose at a similar pace compared with a month ago (up KRW1.1 trillion up KRW1.1 trillion). In the nonbanking sector, household loans increased KRW0.3 trillion, rising at a slower pace compared with the previous month (up KRW0.7 trillion). Mutual finance businesses (up KRW0.8 trillion up KRW1.1 trillion) saw an expanded pace of growth, while savings banks (up KRW0.3 trillion down KRW0.04 trillion) saw the growth trend shifting back down. Insurance companies (down KRW0.3 trillion down KRW0.2 trillion) saw a somewhat slower pace of decline, while specialized credit finance businesses (down KRW0.1 trillion down KRW0.6 trillion) saw a faster pace of decline compared with the previous month. (Assessment) The expanded pace of household loan growth in June can be seen as a consequence of increased housing transactions from Febr
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Jun 11, 2025

Household Loans, May 2025

In May 2025, the outstanding balance of household loans across all financial sectors rose KRW6.0 trillion (preliminary), growing at a faster pace compared with the previous month (up KRW5.3 trillion). (By Type) Home-backed mortgage loans increased KRW5.6 trillion, rising at a faster pace compared with a month ago (up KRW4.8 trillion). The faster pace of growth was seen in both the banking (up KRW3.7 trillion up KRW4.2 trillion) and nonbanking (up KRW1.1 trillion up KRW1.5 trillion) sectors. Other types of loans increased KRW0.4 trillion, rising at a slightly slower pace compared with the previous month (up KRW0.5 trillion), as credit loans expanded at a slower rate (up KRW1.2 trillion up KRW0.8 trillion). (By Sector) In May, household loans in the banking sector rose at a faster pace compared with the previous month (up KRW4.7 trillion up KRW5.2 trillion). Banks own mortgage loans grew at an expanded level (up KRW1.9 trillion up KRW2.5 trillion), while policy-based loans grew at a slightly slower pace (up KRW1.8 trillion up KRW1.6 trillion). Other types of loans in the banking sector rose at a similar pace compared with a month ago (up KRW1.0 trillion up KRW1.0 trillion). In the nonbanking sector, household loans edged up KRW0.8 trillion, rising at a faster pace compared with the previous month (up KRW0.5 trillion). Mutual finance businesses (up KRW0.3 trillion up KRW0.8 trillion) saw a faster pace of growth, while savings banks (up KRW0.4 trillion up KRW0.3 trillion) saw a slower pace of growth. Insurance companies (up KRW0.01 trillion down KRW0.3 trillion) saw household loan growth shifting back lower, while specialized credit finance businesses (down KRW0.1 trillion down KRW0.1 trillion) maintained the same level of decline compared with a month ago. (Assessment) The expanded pace of household loan growth in May can be seen as a consequence of the increase in housing transactions from February this year. As the volume of housing transactions continues to rise, it
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May 20, 2025

KoFIU Unveils H2 2024 Survey Result on Virtual Asset Service Providers

The Korea Financial Intelligence Unit (KoFIU) conducted a survey on 25 registered virtual asset service providers (VASPs) to assess the current state of the domestic virtual asset market and keep relevant statistics up to date. Survey Overview (Respondents) 25 VASPs(17 exchange service providers and 8 custody and wallet service providers) (Survey Method) Data collected from VASPs (Period Covered) July 1, 2024 to December 31, 2024 Key Survey Findings for H2 2024 The price increase in virtual assets and expansion of market size observed from the second half of 2023 in the domestic virtual asset market accelerated in the second half of 2024. Compared with the first half of the same year, average daily trading volume (up KRW1.3 trillion or 22%), total operating profits (up KRW160.2 billion or 28%), and the number of users eligible to trade (up 1.92 million or 25%) all went up. In particular, market capitalization (up KRW51.2 trillion or 91%) and total amount of deposits (up KRW5.7 trillion or 114%) rose significantly. However, during the same period, the coin-only exchange market experienced declines in average daily trading volume (down KRW 660 million or 81%), market capitalization (down KRW 27.6 billion or 19%), and total operating profits (down KRW 1.1 billion or 8%) due to significant concentration in the KRW-based exchange service providers and termination of business operation of certain coin-only exchange service providers. External transfers of virtual assets to the registered entities under the travel rule grew somewhat (up 4%), while those transferred to the whitelisted overseas entities and personal digital wallets saw a notable increase (up 38%). The total size of virtual assets in custody, wallet, and staking services (down KRW 12.3 trillion or 89%) and their number of users (down 196,000 or 99%) both declined significantly as more service providers terminated business operation and the base price of certain custody service providers went down. * Please re
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May 14, 2025

Household Loans, April 2025

In April 2025, the outstanding balance of household loans across all financial sectors rose KRW5.3 trillion (preliminary), growing at a faster pace compared with the previous month (up KRW0.7 trillion). (By Type) Home-backed mortgage loans increased KRW4.8 trillion, rising at a faster pace compared with a month ago (up KRW3.7 trillion). The pace of mortgage loan growth accelerated in the banking sector (up KRW2.5 trillion up KRW3.7 trillion), while slowing down somewhat in the nonbanking sector (up KRW1.2 trillion up KRW1.1 trillion). Other types of loans increased KRW0.5 trillion, shifting back up from the decline of KRW3.0 trillion in the previous month, as credit loans edged up KRW1.2 trillion from a month ago (down KRW1.2 trillion). (By Sector) In April, household loans in the banking sector rose at a faster pace compared with the previous month (up KRW1.7 trillion up KRW4.8 trillion). Banks own mortgage loans grew at an expanded level (up KRW0.7 trillion up KRW1.9 trillion) and policy-based loans also rose at a slightly faster pace (up KRW1.8 trillion up KRW1.9 trillion). Other types of loans in the banking sector turned back up from the decline in the previous month (down KRW0.9 trillion up KRW1.0 trillion) due to a rise in credit loans. In the nonbanking sector, household loans edged up KRW0.5 trillion, rising from the decline of KRW0.9 trillion a month ago. Savings banks (down KRW0.2 trillion up KRW0.4 trillion) and insurance companies (down KRW0.2 trillion up KRW0.1 trillion) saw household loans shifting back up, while specialized credit finance businesses (down KRW0.9 trillion down KRW0.1 trillion) saw a slower pace of decline. In the mutual finance sector (up KRW0.4 trillion up KRW0.2 trillion), the pace of growth slowed down somewhat compared with the previous month. (Assessment) The expanded pace of household loan growth in April can be attributable to the rise in housing transactions taking place between February and March, and the rise in credit loans
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Apr 23, 2025

FSC Chairman Visits Boston and New York to Strengthen Financial Cooperation

Chairman Kim Byoung Hwan of the Financial Services Commission visited Boston and New York, the United States on April 21-22. On April 21, Chairman Kim visited Bostons biotech cluster and held a meeting with the investment companies and Korean biotech firms operating in the U.S. to seek insights on ways to bring about regulatory improvements to promote Koreas biotech venture investment. On April 22, Chairman Kim visited New York and had meetings with Blackstone CEO Stephen Schwarzman and Korean financial companies that have established business operations in New York. Visit to Boston Visit to KHIDIs U.S. Office On April 21, Chairman Kim visited the Korea Health Industry Development Institute (KHIDI)s U.S. office in Boston to gain overall insights into the regions biotech cluster (Kendall Square, aka the most innovative square mile on the planet), which is the worlds largest biotech venture ecosystem hosting more than a thousand biotech companies, research institutions, hospitals, and universities. During his visit, Chairman Kim was also briefed about Korean biotech companies operating in the U.S. and the support made available by the KHIDI. Meeting with Venture Capital Investors Chairman Kim held a meeting with a group of Korean venture capitalists operating in Bostons biotech cluster to seek diverse opinions and gain insights on ways to cultivate a biotech venture investment ecosystem in Korea. At the meeting, Chairman Kim said that Koreas venture investment has declined after reaching a peak in 2021-2022, particularly in the biotech sector associated with high risks where long-term investments are required. Since investors may face difficulties in making an exit in the biotech industry, Chairman Kim said that there are concerns over a potential fall in the biotech venture ecosystem. In this regard, Chairman Kim sought diverse recommendations and opinions from participants that will help to foster a biotech venture ecosystem in Korea. Visit to AVEO Oncology Chairman
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Apr 14, 2025

FSC Proposes Legislative Changes to Improve Regulations on Financial Holding Companies

The Financial Services Commission issued a preliminary notice of legislative changes on April 14 regarding the Financial Holding Companies Act (the Act hereinafter) and its Enforcement Decree, with aims to facilitate synergetic effects within financial holding companies and unleash more agile responses amid changing external environments. Background Financial holding companies (aka financial conglomerates) have been continuously growing since the enactment of the Act in 2000, which sought to improve the competitiveness of financial companies through enlargement and concurrent business operations, while promoting the sound management of their subsidiaries. However, despite the quantitative growth achieved thus far, it has been pointed out that their growth in qualitative terms has remained inadequate due to investment regulations and ownership restrictions. Particularly with rapidly changing environments in the financial sector, such as digital transformation and the big blur phenomena, it has become increasingly crucial to seek regulatory reforms enabling financial holding companies to more agilely and effectively cope with these changes. In this regard, the FSC has held a series of taskforce meetings and seminars with relevant stakeholders and private sector experts to draw up plans to improve rules on financial holding companies. Some of the measures that require no revision to legislation and can be enforced through authoritative interpretationsuch as the shared use of office space, sharing of information for management purpose, and expanding the scope of financial holding companies business areasbe will take effect immediately. The measure which requires a legislative revisionraising the maximum level of investment financial holding companies can make in fintech businesseswill go through a relevant amendment process. Key Revision Details Easing Financial Holding Companies Fintech Investment Limit Pursuant to the current Act, financial holding companies are allow
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Apr 10, 2025

Household Loans, March 2025

In March 2025, the outstanding balance of household loans across all financial sectors edged up KRW0.4 trillion (preliminary), growing at a slower rate compared with the previous month (up KRW4.2 trillion). (By Type) Home mortgage loans increased KRW3.4 trillion, as the pace of growth decelerated in both the banking (up KRW3.4 trillion up KRW2.2 trillion) and nonbanking (up KRW1.5 trillion up KRW1.1 trillion) sectors from a month ago. Other types of loans dropped KRW3.0 trillion, declining at a faster rate compared with the previous month (down KRW0.7 trillion) as credit loans shifted back lower from a month ago (up KRW0.1 trillion down KRW1.2 trillion). (By Sector) Household loans in the banking sector (up KRW3.3 trillion up KRW1.4 trillion) grew at a slower rate, while shifting back lower in the nonbanking sector (up KRW0.9 trillion down KRW1.0 trillion). In the banking sector, policy-based loans rose at a slower rate compared with the previous month (up KRW2.8 trillion up KRW1.5 trillion), while banks own mortgage loans increased at a slightly faster rate (up KRW0.6 trillion up KRW0.7 trillion). Other types of loans including credit loans dropped at a faster rate from a month ago (down KRW0.2 trillion down KRW0.9 trillion). In the nonbanking sector, household loans grew at a slower rate in the mutual finance sector (up KRW0.8 trillion up KRW0.3 trillion), while declining at a faster rate in the savings banks sector (down KRW0.03 trillion down KRW0.2 trillion). Specialized credit finance businesses saw household loan growth turning back down (up KRW0.3 trillion down KRW0.9 trillion), while insurance companies saw a similar level of drop from the previous month (down KRW0.1 trillion down KRW0.1 trillion). (Assessment) The outstanding balance of household loans in March 2025 rose KRW0.4 trillion, edging up at a slower rate compared with the previous month (up KRW4.2 trillion), which shows a stable trend in the pace of growth. However, the high volume of housing mark
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Mar 27, 2025

FSC Introduces Plan to Facilitate Entrustment of Banking Services to Improve Consumer Access to Financial Services

The Financial Services Commission announced a plan to facilitate the entrustment of banking services to improve consumer access to financial services on March 27. Under the plan, the FSC plans to (a) establish a legislative ground for introducing bank agency services and (b) facilitate the use of jointly shared automated teller machines (ATMs) in the banking sector and the small-sum deposit and withdrawal services at convenience stores. With digital transformation rapidly taking place in the financial industry, the number of physical bank branches has been continuously declining.This declining trend has been evident not only in Korea but across the globe as it has become inevitable that online (non-face-to-face) work processes have picked up in a digital era. However, this declining trend in the number of bank branches may restrict financial access to digitally vulnerable consumer groups, such as the elderly. Thus, the proposed plan to facilitate the entrustment of banking services is expected to help address this problem and improve consumer access to financial services. Introducing Bank Agency Services Under the bank agency framework, third-party entities are authorized to provide intrinsic banking services specified under the Banking Act (deposit-taking, lending, money transfer, etc.). This allows consumers to conduct face-to-face banking businesses on-site at locations that are not bank branches. Bank agencies do not engage in all types of banking functions but instead only perform certain types of services requiring face-to-face interactions with customers on behalf of banks, such as consulting, receiving application forms, signing an agreement, etc. Other types of banking functions, such as the screening and approval of applications which require decision-making but no interaction with customers, are still directly performed by banks. Since bank agencies will perform intrinsic banking services, there will be entry restrictions, and only authorized entities wil
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