Bank presidents asked to inspect their institutions' internal control systems, and to do more to contain rising levels of household indebtedness.
August 21, 2023The FSS has directed three Chinese banks with branches in Seoul to take corrective measures to rectify disclosure and reporting violations.
July 24, 2023The guidelines will cover CEO appointments, management succession procedures, and evaluation and supporting systems for independent directors.
July 20, 2023FIs are opposed to the move as it would raise the premium rates they pay for deposit insurance. Regulators say the impact should be "carefully examined".
June 29, 2023Under the revised "PF Lenders Agreement”, creditors will be able to quickly reschedule debt and supply new funds if real estate projects being financed run into trouble.
May 3, 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, 2023The new disclosures are expected to push banks to increase the interest rates they pay on deposit products, and slow down the pace of interest rate hikes on loans.
August 24, 2022Banks will be required to publicly disclose their lending rates, deposit rates, and net interest spreads, to allow consumers to make quick comparisons.
July 11, 2022Shinhan, through its partner exchange Korbit, will become the first Korean bank to allow businesses to invest in cryptocurrencies.
April 12, 2022A report will be submitted to the incoming president's transition committee requesting that banks be allowed to engage in the crypto sector.
April 7, 2022