Ten payment services are required to disclose payment commission rates charged to businesses, including Naver Pay, Kakao Pay and Toss Pay.
January 8, 2023BOK tested the use of its CBDC system to purchase NFTs, perform cross-border remittances, fulfill seizure orders, and automate AML/CFT monitoring and STR filings.
November 8, 2022A fire occurred at a data centre where Kakao operates 32,000 servers that support the vast majority of its mobile services.
October 19, 2022The approval marks the first time that a newcomer to the insurance industry has been given permission to start a digital insurance company.
April 20, 2022Sohn Byung-doo suggests lockup periods be imposed on executives following an IPO, and that companies be required to consider retail investors when processing spinoff IPOs.
January 28, 2022The FSC and FSS have ordered Kakao and Naver to alter or halt the sale of financial products online and register as brokerages by 24 September.
September 15, 2021Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.
August 9, 2021Listing applicants in Korea have recently had to lower their IPO pricing to address FSS concerns over high valuations.
July 18, 2021The policy plans include measures to promote digital insurance products and establish standards for online platform services, among other measures.
March 6, 2021A new framework will be introduced to allow firms like Kakao and Naver to sell digital insurance products under sandbox-like conditions.
February 11, 2021