The FSS has introduced a guideline on the management of climate risks in the financial sector. Meanwhile, a green finance handbook will be finalised for publication next year.
December 10, 2021The FSS is reviewing a decision to penalise nine market-makers, taking into account "self-correcting measures" by individual firms.
November 26, 2021Banks are also asked to allow borrowers to demand rate adjustments when their wealth increases or credit ratings improve.
November 23, 2021The FSS said KakaoBank's weak monitoring has resulted in the lender's failure to flag suspicious overseas money transfers on several instances.
November 18, 2021Shinhan Investment and KB Securities were ordered to suspend parts of their operations for six months. Daishin Securities was ordered to close a branch.
November 16, 2021South Korea's FSS will shift focus from disciplinary actions to risk prevention, according to FSS governor Jeong Eun-bo.
November 11, 2021The proposed rule changes seek to ease the reporting burden faced by financial firms with business operations and investments in overseas markets.
November 5, 2021The taskforce will explore additional measures to manage household debt-related risks and promote more responsible lending practices.
November 2, 2021Citi is asked to submit a detailed plan for how it will protect consumer rights as it exits its retail banking business in Korea.
November 1, 2021Among the companies subject to the probe is Starbucks, which holds customer funds in excess of 180bn won, more than Naver Pay and Toss.
October 30, 2021