Six industry bodies have filed a joint request asking regulators to grant their boards more autonomy over their internal affairs rather than punishing their executives.
September 16, 2021An FSS decision to ban Woori Financial Group Chairman Son Tae-seung from the financial industry for three years is effectively nullified.
August 31, 2021Shinhan Bank has separately been ordered to repay up to 75 percent of investments it sold in Lime's credit insured funds.
April 22, 2021Some foreign banks have launched emergency safety measures, ordering employees to stay at home or halting operations indefinitely.
February 3, 2021The selected banks will play a leading role in price formation and in supplying liquidity to the KRW/RMB direct trading market.
January 3, 2021While banks performed better than expected this year, the FSS is concerned about new Covid-19 cases being detected in Korea and resulting economic uncertainty.
December 23, 2020Major Korean banks have started lowering limits on overdraft account products, amid a move by financial regulators to curb the accumulation of household debt.
November 25, 2020A new inter-agency team, led by the FSS, will be established by mid-July, and refer any illegalities detected to authorities for 'swift action' including prosection.
July 5, 2020Fifteen banks and eight bank holding companies opted to adopt the Basel III credit risk framework early as it will boost their capital adequacy ratios.
June 30, 2020Shinhan Financial Group subsidiary Jeju Bank has been removed pursuant to April's temporary easing of regulations to exclude small-sized regional banks from the designation.
June 25, 2020