South Korea's Financial Services Commission (FSC) said the state-run policy lenders Korea Development Bank and the Industrial Bank of Korea will allocate 200 billion won ($184.9 million) in funds this year to support financial technology companies or fintech.
Indonesia’s Financial Services Authority (OJK) has signed an agreement boosting cooperation with South Korea’s Financial Supervisory Service (FSS) in overseeing the financial industry.
South Korea's financial regulator believes the country will see the launch of its first Internet-only bank this year, as measures are being hammered out with major IT firms like Naver Corp. and Daum Kakao Corp. to encourage them to invest...
Financial Services Commission chairman-nominee Yim Jong-yong is against relaxing rules that ban conglomerates from holding a major stake in South Korean banks.
Financial Services Commission chairman designate Yim Jong-yong is expected to relax regulations governing asset and capital at financial firms, say officials and analysts.
Bank loans to small companies in South Korea increased at the fastest pace in six years in 2014, amid pressure from the government to support startups and firms with high-level technologies.
South Korea plans to revise local banking laws that will allow Internet-only banks to operate in the country.
Financial Services Commission chairman Shin Je-yoon said he will remove hurdles to the fast-growing financial technology in a bid to boost South Korea's long-sluggish financial industry.
The Financial Services Commission (FSC) said it will establish an independent state-run agency responsible for consumer protection in the financial sector next year.
Financial Services Commission chairman Shin Je-yoon said raising funds via social network services or crowdfunding can turn venture ideas to actual businesses and is a necessary new source of funding.