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Finance

Financial union opposes relocating financial institutions outside capital, seeks review of first-phase effects

The Financial Industry Union said it opposes the government’s push for a second phase of relocating public institutions outside the capital, rejecting a uniform move of financial bodies. It said the government should first assess the effects of the first relocation phase, including impacts on regional economies, settlement conditions and staff outflows, and then decide based on financial-sector characteristics. It also called for a development model linking local industry, finance, universities and jobs.

Crypto

Korea Fintech Industry Association, XRPL Korea to support commercialisation of digital asset businesses

The Korea Fintech Industry Association said it signed an agreement with XRPL Korea on Aug. 20 to help domestic fintech firms identify and commercialise new digital asset-based businesses. The two plan joint programmes focused on payments, remittances and settlement, stablecoins, tokenisation of real-world assets and digital asset financial infrastructure. They will support idea verification, proof-of-concept work and service implementation, and may link follow-up cooperation with global XRPL networks and financial institutions.

Telecommunications & Media

TVING announces compensation plan after leak of 39.54 million accounts

TVING, which suffered a leak involving personal data from about 39.54 million accounts, announced a compensation package including 5,000 won worth of points, a premium viewing upgrade, insurance against hacking and phishing, and entertainment coupons. The company put the perceived value at about 20,000 won per person, but it is not cash. Users who have withdrawn must rejoin to receive compensation, and the application window runs from Sept. 7 to 30.