Press Release
  • FSC Announces Plans to Further Promote Use of Big Data in Finance
    FSC Announces Plans to Further Promote Use of Big Data in Finance

    FSC Announces Plans to Further Promote Use of Big Data in FinanceJuly 1, 2020

    The FSC announced its plans to make financial big data more widely available on July 1, which include making improvements to the Korea Credit Information Services' CreDB system and newly creating an open big data system at the Korea Financial Telecommunications & Clearings Institute.* Please refer to the attached PDF for details.

  • FSC Issues Suspension of Business Operation for Optimus Asset Management
    FSC Issues Suspension of Business Operation for Optimus Asset Management

    FSC Issues Suspension of Business Operation for Optimus Asset ManagementJune 30, 2020

    The FSC decided to issue suspension of business operation for Optimus Asset Management on June 30 in order to protect investors and prevent vacuum in the fund management and operation amid recent disruptions due to ongoing probes related to alleged frauds.* Please refer to the attached PDF for details.

  • Government Seeks to Lower Risks in OTC Derivatives Market
    Government Seeks to Lower Risks in OTC Derivatives Market

    Government Seeks to Lower Risks in OTC Derivatives MarketJune 30, 2020

    The revisions to the Financial Investment Services and Capital Markets Act (FSCMA) were approved at a cabinet meeting on June 30, which aim to lower risks in the over-the-counter (OTC) derivatives market and improve regulations on asset management and crowdfunding.* Please refer to the attached PDF for details.

  • Vice Chairman Discusses Importance of Banks' Capital Buffers to Support Real Economy
    Vice Chairman Discusses Importance of Banks' Capital Buffers to Support Real Economy

    Vice Chairman Discusses Importance of Banks' Capital Buffers to Support Real EconomyJune 30, 2020

    Vice Chairman Sohn Byungdoo presided over the 10th financial risk assessment meeting on June 30 to assess the financial market conditions and monitor the progress in implementing the COVID-19 financial support.* Please refer to the attached PDF for details.
  • FSC Holds Financial MyData Forum & Info Session on Licensing Procedures
    FSC Holds Financial MyData Forum & Info Session on Licensing Procedures

    FSC Holds Financial MyData Forum & Info Session on Licensing ProceduresJune 29, 2020

    The FSC held a financial MyData forum on June 29 to facilitate discussions on the topic of "personal data meets finance and IT" and provide information about the licensing procedures for MyData businesses.* Please refer to the attached PDF for details.
  • FSC Seeks Revisions to Credit Business Act to Tighten Rules on Illegal Predatory Lending
    FSC Seeks Revisions to Credit Business Act to Tighten Rules on Illegal Predatory Lending

    FSC Seeks Revisions to Credit Business Act to Tighten Rules on Illegal Predatory LendingJune 29, 2020

    The FSC introduced revisions to the Act on Registration of Credit Business and Protection of Finance Users to strengthen rules on illegal predatory lending on June 26.* Please refer to the attached PDF for details.

  • Early Implementation of Basel III Credit Risk Framework
    Early Implementation of Basel III Credit Risk Framework

    Early Implementation of Basel III Credit Risk FrameworkJune 29, 2020

    The financial authorities announced that fifteen banks and eight bank holding companies will begin to gradually implement Basel III credit risk framework from the end of June 2020.* Please refer to the attached PDF for details.

  • Personal Debt Purchase Program to Begin June 29
    Personal Debt Purchase Program to Begin June 29

    Personal Debt Purchase Program to Begin June 29June 25, 2020

    Vice Chairman Sohn Byungdoo attended the launching of the Korea Asset Management Corporation’s personal debt purchase program on June 25 and spoke about the importance of inclusive finance.* Please refer to the attached PDF for details.
  • FSC Changes Rules on Liquid Asset Requirements for Repo Transactions
    FSC Changes Rules on Liquid Asset Requirements for Repo Transactions

    FSC Changes Rules on Liquid Asset Requirements for Repo TransactionsJune 24, 2020

    The FSC revised the regulations on financial investment business on June 24, laying out specific liquid asset requirements for the sellers of repurchase agreements.* Please refer to the attached PDF for details.

  • FSC Identifies D-SIBs for 2021
    FSC Identifies D-SIBs for 2021

    FSC Identifies D-SIBs for 2021June 24, 2020

    The FSC identified a total of ten bank holding companies and banks as domestic systemically important banks (D-SIBs) for 2021.* Please refer to the attached PDF for details.