Press Release
  • 78 Out of 237 P2P Lending Firms Found Eligible for Business Registration
    78 Out of 237 P2P Lending Firms Found Eligible for Business Registration

    78 Out of 237 P2P Lending Firms Found Eligible for Business RegistrationSeptember 2, 2020

    The financial authorities announced on September 2 that 78 out of the current total of 237 P2P lending firms have filed proper audit reports on time to be eligible for business registration under the new P2P lending act, which came into effect on August 27.* Please refer to the attached PDF for details.

  • Vice Chairman Stresses Importance of Both Virus Prevention and Effective Lending Support
    Vice Chairman Stresses Importance of Both Virus Prevention and Effective Lending Support

    Vice Chairman Stresses Importance of Both Virus Prevention and Effective Lending SupportSeptember 1, 2020

    Vice Chairman Sohn Byungdoo presided over the 19th financial risk assessment meeting via teleconference on September 1 to review market conditions and monitor the progress in implementing the COVID-19 financial support.* Please refer to the attached PDF for details.
  • Temporary Ban on Short Sale to be Extended for Six Months
    Temporary Ban on Short Sale to be Extended for Six Months

    Temporary Ban on Short Sale to be Extended for Six MonthsAugust 27, 2020

    The FSC announced its decision to extend the temporary ban on stock short sale for six months from September 16, 2020 to March 15, 2021, given market volatility amid concerns over a resurgence in COVID-19 cases.* Please refer to the attached PDF for details.

  • FSC Chairman Discusses Improving Rules for Retail Investors
    FSC Chairman Discusses Improving Rules for Retail Investors

    FSC Chairman Discusses Improving Rules for Retail InvestorsAugust 27, 2020

    FSC Chairman Eun Sung-soo met with the heads of the Korea Financial Investment Association and major securities firms on August 27 and held talks on the current market situation, temporary ban on stock short sale, improving rules for retail investors and channeling liquidity to the real economy sectors.* Please refer to the attached PDF for details...
  • Loan Deferment of Principal and Interest Payments Extended for SMEs and Small Merchants
    Loan Deferment of Principal and Interest Payments Extended for SMEs and Small Merchants

    Loan Deferment of Principal and Interest Payments Extended for SMEs and Small MerchantsAugust 27, 2020

    The FSC announced the availability of loan maturity extensions and deferment of interest payments for SMEs and small merchants until March 31, 2021.* Please refer to the attached PDF for details.

  • FSC Decides to Extend Part of Temporary Deregulatory Measures
    FSC Decides to Extend Part of Temporary Deregulatory Measures

    FSC Decides to Extend Part of Temporary Deregulatory MeasuresAugust 26, 2020

    The FSC announced its decision to extend some of the temporary deregulatory measures introduced on April 17 in order to continue to support the financial sector amid a protracted pandemic situation.* Please refer to the attached PDF for details.

  • Legislation on P2P Lending Takes Effect
    Legislation on P2P Lending Takes Effect

    Legislation on P2P Lending Takes EffectAugust 26, 2020

    The FSC announced that the Online Investment-linked Finance Act will go into effect on August 27. The new legislation on peer-to-peer lending specifies requirements for business registration, regulations on sales practices and measures for consumer protection.* Please refer to the attached PDF for details.

  • New Bill on Supervision of Financial Conglomerates Moves ahead for Enactment
    New Bill on Supervision of Financial Conglomerates Moves ahead for Enactment

    New Bill on Supervision of Financial Conglomerates Moves ahead for EnactmentAugust 25, 2020

    The government approved the bill on the supervision of financial conglomerates during a cabinet meeting on August 25, which will be submitted to the National Assembly for enactment at the end of August.* Please refer to the attached PDF for details.

  • Vice Chairman Discusses Preemptive Responses to Potential Risks amid Growing Uncertainty
    Vice Chairman Discusses Preemptive Responses to Potential Risks amid Growing Uncertainty

    Vice Chairman Discusses Preemptive Responses to Potential Risks amid Growing UncertaintyAugust 24, 2020

    Vice Chairman Sohn Byungdoo presided over the 18th financial risk assessment meeting on August 24 to review market conditions and monitor the progress in implementing the COVID-19 financial support.* Please refer to the attached PDF for details.
  • FSC Seeks Innovation in Financial Regulations through Regulatory Sandbox Program
    FSC Seeks Innovation in Financial Regulations through Regulatory Sandbox Program

    FSC Seeks Innovation in Financial Regulations through Regulatory Sandbox ProgramAugust 20, 2020

    The FSC announced recent progress in the operation of the financial regulatory sandbox on August 20. Through its sandbox program, regulatory improvements were made to eight specific areas with five more currently in the process of revision and fourteen more recognized as necessary for reform.* Please refer to the attached PDF for details.