The FSS is investigating whether Kakao manipulated the stock price of K-pop agency SM Entertainment.
April 12, 2023The guidelines are an action item from a new task force that was created after a data centre fire disrupted Kakao's services last October.
April 5, 2023On-site inspection will be initiated "immediately" in the event that financial services are interrupted for more than three hours due to a computer accident.
January 3, 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 FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.
August 5, 2022Korean banks have reportedly asked the FSC to ease regulations and issue licenses allowing them to operate digital asset businesses.
July 21, 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, 2022The FSS is set to conduct 779 regular or occasional inspections on financial firms throughout this year.
April 7, 2022In phase two, BOK will test offline payments, remittances to accounts outside Korea, and the use of its CBDC as payment for NFTs.
January 27, 2022