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Finance

Korea Bankers Association to support small businesses with annual sales under 100 million won, prioritising regions and youth

The Korea Bankers Association will provide a total of 1,300 one-on-one management consulting sessions to 300 small business owners with annual sales of 100 million won or less. It will prioritise applicants from regional commercial areas and young small business owners, and will select at least 60 percent from outside the Seoul metropolitan area and major cities or areas without bank consulting centres. Ten sites will receive about 6 million won each to improve business environments.

Crypto

U.S. bank groups seek to tighten Clarity Act stablecoin rewards limits

Concerns are rising in both the banking sector and the crypto industry over the final version of the Clarity Act ahead of a U.S. Senate procedural vote. Eight U.S. banking groups asked Senate leaders to strengthen limits on stablecoin rewards, warning the revised bill could allow payments similar to deposit interest. Crypto industry figures also criticized the amendment for omitting protection from federal criminal prosecution for certain developers. The Senate plans a procedural vote on Sept. 16, requiring 60 votes to advance.

Finance

Kosdaq firms below market cap threshold can move to Konex, delisting rules revised

South Korea will allow Kosdaq-listed companies that fall short of the market capitalisation threshold to transfer their listing to the Konex market if they meet certain financial requirements, aiming to reduce market shock from tougher delisting rules. Authorities will also delay by six months a planned increase in the Kosdaq market-cap delisting threshold, pushing the implementation to July next year from January.