Financial Services Commission

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.

Fintech Policy Direction for 2019 190116_2019 Fintech Policy.pdf(190 KB)

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.

FSC to Approve Additional Online-only Banks 181221 Additional online-only banks.pdf(186 KB)

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.

Large Kospi-listed Companies to Make Mandatory Disclosure of Key Information About Corporate Governance From 2019 181219 Mandatory Disclosure of Corporate Governance from 2019_FN.pdf(212 KB)

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.

Financial Innovation Support Act Passed in the National Assembly 181210_Financial Innovation Support Act.pdf(185 KB)

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.

FSC Reforms Card Processing Fee Rates 181126_Card Processing Fees.pdf(187 KB)

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.

SFC 181114 SFC Final Ruling on Samsung BioLogics.pdf(96 KB)

FSC Proposes Capital Market ReformNovember 1, 2018

The FSC proposed capital market reform initiatives aimed at facilitating financing for innovative companies through capital markets.

FSC Proposes Capital Market Reform 181101_Capital Market Reform Proposed.pdf(208 KB)

FSC Holds Meeting on Financial Market ConditionsOctober 29, 2018

FSC Vice Chairman Kim Yongbeom convened a meeting with representatives of financial institutions this morning to examine financial market conditions and make sure that Korea's economic and financial conditions are well prepared to deal with the recent market turmoil.

FSC Holds Meeting on Financial Market Conditions 181029 FSC Meeting on Financial Market Conditions.pdf(110 KB)

Debt Service Ratio to be Introduced as Household Debt Management StandardOctober 18, 2018

The FSC will introduce DSR rules in conjunction with other lending standards to reduce household indebtedness and rapid household debt growth.

Debt Service Ratio to be Introduced as Household Debt Management Standard 181018 Introduction of DSR Rules.pdf(214 KB)

Enforcement Decree of the Special Act on the Establishment and Operation of Online-only BankOctober 17, 2018

The FSC enacted the 'Enforcement Decree of the Special Act on the Establishment and Operation of Online-only Bank.'

Enforcement Decree of the Special Act on the Establishment and Operation of Online-only Bank 181017 Enforcement Decree of the Special Act on Online-only Bank.pdf(115 KB)