Ten payment services are required to disclose payment commission rates charged to businesses, including Naver Pay, Kakao Pay and Toss Pay.
January 8, 2023The change will improve the efficiency and expertise available for conducting investigations into capital market frauds, the FSC said.
January 5, 2023The new service allows financial consumers to suspend payments from all of their accounts at banks and non-banks at once.
January 4, 2023The revision bill will benefit almost 1,000 listed companies, exempting them from a requirement to subject their internal accounting management systems to external audits.
January 4, 2023On-site inspection will be initiated "immediately" in the event that financial services are interrupted for more than three hours due to a computer accident.
January 3, 2023The concerns relate to self-issued equity and derivative-linked bonds sold by securities firms, and the offering of high interest credit loans to investors.
December 29, 2022Effective from 1 January 2023, the guidelines are part of the response by the FSS and KOFIA to boost market confidence after a series of hedge fund scandals in Korea.
December 28, 2022The FSS told Shinhan Bank to strengthen its fraud detection system and Woori Bank to improve its post-sale management of fund products.
December 23, 2022The recommendations follow bank inspections that were launched in response to suspicious FX transactions used by customers to exploit the so-called “kimchi premium”.
December 8, 2022Foreign investors will no longer need to register their identities prior to investing in Korean stocks. The dividend-payment process is also being revised.
November 30, 2022