Regulators are considering allowing shareholders to vote on executive compensation, introducing clawback provisions, and granting new bank approvals, among other measures.
March 6, 2023The FSS is set to conduct 779 regular or occasional inspections on financial firms throughout this year.
April 7, 2022Internet-only banks will be allowed to use a lower weight for existing household loans when calculating calculating loan-to-deposit ratios.
January 31, 2022Internet-only banks will expand lending to mid to low credit borrowers to at least 30 percent of total lending by end-2023.
May 30, 2021According to the FSC, messenger app operator Kakao has met the qualification criteria for owning a 34% stake in Kakao Bank, one of Korea's two internet-only banks.
July 25, 2019The FSC has announced changes to the operational procedures of its evaluation committee for internet-only bank, amid plans to reopen applications for new licences on 10 October.
July 18, 2019The FSC will accept applications again during Q3 this year. Kiwoom Bank and Toss Bank can address their shortcomings and resubmit their applications.
May 27, 2019Only Basel I rules will apply for the first three years after launch. Basel III will be phased in from the fourth year onwards, including NSFR and the leverage ratio.
May 17, 2019The FSC wants to grant new internet-only banks three years' grace on Basel III requirements to ease the regulatory burden during the early stages of their business operation.
March 26, 2019The FSC said it plans to approve two more Internet-only banks next year, a day after a bill passes allowing non-financial firms to boost their ownership stakes in such banks.
September 24, 2018