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Finance
Finance sector on edge as talk grows of relocating key financial institutions from Seoul
South Korea\'s finance sector is on edge amid speculation the government is close to announcing a second plan to relocate public institutions outside Seoul. Korea Development Bank, IBK Industrial Bank of Korea and Export-Import Bank of Korea are being mentioned, along with the Financial Services Commission and Financial Supervisory Service. The government has not officially confirmed targets or regions. Labour groups are escalating opposition, with unions planning a general strike and rallies to block any relocation.
Finance
Financial regulatory sandbox to be overhauled for fintech
South Korea\'s financial authorities will overhaul the financial regulatory sandbox to make it more fintech-friendly, focusing on lowering entry barriers for startups and strengthening exit strategies into regulated finance after the sandbox ends. The Financial Services Commission said it will revamp the innovative financial services framework across its full cycle. Measures include expanding exclusive operating rights, increasing cost and insurance support for smaller firms, adjusting screening standards for fintech and accelerating regulatory review for successful services.
Crypto
Warren questions legality of OCC crypto charters including Coinbase and Ripple
U.S. Democratic Senator Elizabeth Warren, a leading advocate of stricter crypto regulation, challenged the Office of the Comptroller of the Currency\'s chartering process for crypto firms. She asked OCC head Jonathan Gould to justify the legality of nine national trust charters granted since December 2025, including entities linked to Coinbase and Ripple. Warren said the firms had not shown custody as their core business and warned the structure could enable regulatory arbitrage. She demanded related applications and internal communications by June 1.
