Yoon Suk-heun, whose three-year term ends in two months, allegedly promoted certain officials who had been punished for hiring irregularities.
March 10, 2021Investigators were dispatched to both firms to secure computer drives and documents linked to alleged misselling and fraud at both firms.
February 20, 2020Vietcombank and Vietinbank will each receive government funds to bolster their capital. Agribank will be allowed to retain its earnings rather than contribute to the state budget.
February 4, 2020The FSS will reorganise its consumer protection department to boost supervision of high-risk financial products, and establish suptech and regtech teams.
January 24, 2020Led by mobile money transfer app operator Viva Republica, the Toss Bank consortium expects to commence operations as an internet-only bank during the first six months of 2021.
December 17, 2019The sale of highly complex derivative products will still be banned, but banks will be allowed to sell equity-linked trusts linked to the KOSPI 200, S&P 500, Euro Stoxx 50, HSCEI or Nikkei 225.
December 16, 2019Vietcombank, BIDV, Vietinbank and Agribank are close to minimum capital adequacy requirements and may be forced to stop lending if they are not allowed to increase capital.
December 6, 2019Initially, bank customers will be able to access services from 10 banks, before the system is expanded to other banks and fintech firms in December.
October 31, 2019FSS data shows that JP Morgan Chase and Société Générale earned nearly $6.8mn from the high-risk derivatives products sold through KEB Hana and Woori Bank.
October 23, 2019KEB Hana Bank is said to have deleted data related to the sale of derivative-linked funds after the FSS had already declared its intent to conduct inspections at the bank.
October 17, 2019