Banks' Financial Payment System to be Open to Fintech FirmsFebruary 25, 2019

The FSC proposed its plan to establish an open banking system which would allow fintech firms to access banks' payment network, in an effort to encourage development of new payment services and greater competition in the financial sector.

FSC to Propose a Bill on P2P LendingFebruary 11, 2019

The FSC plans to propose a bill on peer-to-peer(P2P) lending to help P2P sector grow into one of innovative fintech services and provide both investors and borrowers with better protection.

Korea Next Exchange (KONEX) to be RevitalizedJanuary 30, 2019

FSC Chairman Choi JongKu announced a plan for revitalizing KONEX at a meeting with young entrepreneurs and venture capital investors.

Follow-up Measures for Capital Market ReformJanuary 21, 2019

The FSC will introduce a new category of brokerage companies specialized in capital raising business for SMEs & venture companies. Moreover, in order to broaden and diversity a pool of professional investors, the FSC plans to ease registration requirements and relevant procedures

Fintech Policy Direction for 2019January 16, 2019

FSC Chairman Choi JongKu outlined the FSC's policy priorities for fintech innovation in 2019 at a meeting with fintech entrepreneurs, financial institution executives and investors.

FSC to Approve Additional Online-only BanksDecember 24, 2018

The FSC announced its plans to approve additional online-only banks as the Special Act on the Establishment and Operation Online-only Banks takes effect on January 17, 2019.

Large Kospi-listed Companies to Make Mandatory Disclosure of Key Information About Corporate Governance From 2019December 19, 2018

The FSC approved amendments to the KRX's Kospi Market Disclosure Regulations.

Financial Innovation Support Act Passed in the National AssemblyDecember 10, 2018

National Assembly passed a legislation called the Financial Innovation Support Act on December 7, 2018.

FSC Reforms Card Processing Fee RatesNovember 26, 2018

The FSC plans to reform card fee rates as part of the government's efforts to ease burdens on small merchants and self-employed business owners.

SFC's Final Ruling on Samsung BioLogicsNovember 14, 2018

The SFC ruled that Samsung BioLogics intentionally violated accounting rules by changing the accounting treatment of its holdings in Samsung Bioepis in 2015.