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Finance

KOFIA welcomes passage of STO bill in parliamentary committee

The Financial Investment Association said it welcomed the National Assembly’s political affairs committee approving amendments that establish legal grounds for issuing and trading security tokens. The group noted that both ruling and opposition lawmakers introduced the bills and passed them by agreement. It said demand for issuing and trading non‑standard securities has risen with blockchain‑based fractional investments. The amendments recognise electronic registration of security tokens and provide regulatory grounds for STO introduction and trading. Chairman Seo You‑seok said STOs could broaden fundraising for innovative and venture firms and pledged cooperation with regulators.

Finance

KB Kookmin Bank to provide 50 billion won in loans to boost SME retirement plans

KB Kookmin Bank will provide around 50 billion won in loans to small and medium-sized enterprises that newly adopt retirement pension schemes. The programme follows a May agreement with the Ministry of Employment and Labor and Korea Credit Guarantee Fund. The bank will contribute 1.6 billion won in special funds and 400 million won in guarantee fee support to back guarantee loans. Firms that adopted the plans after January 1 last year and have maintained them for at least one month are eligible.

Finance

Shinhan Bank launches loan support for SME retirement pensions

Shinhan Bank has begun a loan support programme aimed at helping small and medium-sized companies introduce retirement pensions. The initiative, developed with the Ministry of Employment and Labor and the Korea Credit Guarantee Fund, provides credit-guaranteed working capital of up to 500 million won per company and offers reduced guarantee fees for three years. Shinhan Bank said it expects the scheme to ease financial pressure on SMEs and support wider adoption of retirement pension systems.