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.
September 7, 2021BOK board member Koh Seung-beom will lead the FSC, subject to a confirmation hearing. Former financial regulator Jeong Eun-bo will lead the FSS.
August 9, 2021Cryptocurrency exchanges based outside Korea would be required to register with KoFIU if they use the Korean won for settlement.
July 14, 2021The FSC says credit support measures for SMEs will be maintained at it will minimise the impact of rating downgrades.
March 31, 2021The BOK said it opposes the payment settlement system being used to oversee private transaction data, calling a revision bill proposed by the FSC a "Big Brother law".
February 26, 2021Following talks with FSC Chairman Eun Sung-soo, five major banking groups agreed to extend the loan deferment programme until September.
February 18, 2021The upgraded AML system has increased KoFIU's processing capacity by about five times, helping it address an increasing number of suspicious transaction reports it receives.
December 18, 2020The key enforcement proposals relate to consumer rights, the types of firms under scope, and the reach of the new legislation, and the penalties that can be imposed.
October 30, 2020Samsung Securities allegedly intervened to secure support from shareholders of a Samsung entity for a 2015 merger while also acting as adviser to the other party in the transaction.
October 19, 2020Chairman Eun Sung-soo said the FSC could impose regulatory measures to curb rising household debt. Meanwhile, banks have indicated a growing aversion to household lending.
October 14, 2020