The 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, 2022In all, 29 VASPs have been approved out of a total 42 that filed for registration by the 24 September deadline. Decisions on five entities are still pending.
December 24, 2021Bithumb, Coinone, and Korbit will likely meet the 24 September deadline. Korean police are preparing for illegal incidents from exchanges that are forced to close.
September 13, 2021Bithumb, Coinone and Korbit have established a joint venture that will be used to develop systems to meet the travel rule requirement by March 2022.
September 2, 2021Upbit has a partnership with K-bank for real-name verification. One or two more exchanges are expected to register by end-August.
August 24, 2021The new division will oversee the adoption and implementation of the FATF recommendations on digital assets and VASPs.
August 17, 2021With the final approval, Toss Bank will officially launch as early as September, making it the third internet-only bank in the country.
June 10, 2021Internet-only banks will expand lending to mid to low credit borrowers to at least 30 percent of total lending by end-2023.
May 30, 2021Toss Bank was awarded a preliminary licence to operate an internet-only bank in December 2019. It plans to launch operations in mid-2021.
February 8, 2021