Bank of Korea

AML / KYC

S. Korea Targets Illicit Overseas Purchases of Real Estate

By Ranamita Chakraborty | 18/11/2021

The Korea Customs Service will establish mechanisms targeting the sources of funds used by foreign residents for domestic real estate purchases.

Korea Eases Loan Restrictions to Accommodate Home Rentals

By Editors | 17/10/2021

New household loans issued to pay for jeonse deposits in Q4 2021 will not count toward the government’s 6 percent loan growth target for the year.

Market Infrastructure

New Zealand Becomes Third in APAC to Raise Rates

By Editors | 08/10/2021

The RBNZ increased its official cash rate for the first time in seven years to contain inflationary pressures and cool the housing market.

ESG / Sustainability

BOK to Boost Investment in ESG-related Stocks, Bonds

By Editors | 28/09/2021

The BOK will exclude companies and sectors with low ESG scores from its investment universe in its foreign currency reserves management.

Enforcement

FSS Korea Warns KB Savings Bank Over Lax Lending Controls

By Editors | 08/09/2021

KB Savings Bank increased its household lending by raising internal limits and discounting interest rates, without a strict review process and proper oversight.

Market Infrastructure

S. Korea: New FSC, FSS Chiefs to Rebuild Cooperative Relations

By Sanday Chongo Kabange | 07/09/2021

The new chiefs of the FSC and FSS held their first official meeting since taking office. They pledged to unite on issues such as household debt and Covid-19.

Enforcement

Korea: Ex-Presidential Aide Sentenced to Jail for Crypto Fraud

By Sanday Chongo Kabange | 31/08/2021

The former presidential aide claimed a scam token had been certified by the BOK, FSS and KFTC, and that investors could multiply their investment by 100 times.

Market Infrastructure

S. Korea, Sri Lanka Become First in APAC to Raise Interest Rates

By Editors | 26/08/2021

The BOK is looking to curb household debt and home prices. The CBSL wants to stem inflationary pressure and the depreciation of the local currency.

Market Infrastructure

FSS Korea Launches Probe into Electronic Payment Providers

By Manesh Samtani | 20/08/2021

The probe is a response to a growing scandal involving a local gift card provider, which offered users of its app large discounts and then changed its terms.