Search results for Financial Services Commission
Finance
Top four financial holding groups set for record first-half profit above 11 trillion won
South Korea\'s four biggest financial holding groups, KB Financial, Shinhan Financial, Hana Financial and Woori Financial, are expected to post combined first-half net profit above 11 trillion won, a record for the period. Estimates point to higher bank interest income on rising market rates and improved results at securities units amid active stock trading. A potential refund of provisions tied to Hong Kong H-share ELS fines could also support earnings, depending on final decisions.
Finance
Youth Future Savings Plan applications top 2 million
Applications for South Korea\'s Youth Future Savings Plan have topped 2 million, with demand expected to continue as the deadline nears. The Financial Services Commission and the Korea Inclusive Finance Agency said cumulative applications stood at 2.012 million as of 1 p.m. on July 2. Applications are open until 6:30 p.m. on July 3. Eligibility screening will run from July 6 to July 24, with results notified individually.
AI & Enterprise
FSC says minor IT outages during financial AI security work exempt from sanctions
South Korea\'s Financial Services Commission said financial firms can be exempt from sanctions for minor IT disruptions that occur during security tests or security patches aimed at responding to frontier AI security threats, if certain conditions are met. The FSC approved the measure at a review meeting and distributed response guidance for the financial sector. Exemption conditions include the severity of the disruption, rapid recovery measures and consumer protection steps.
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Finance
Internet-only banks to expand in-person services, allowing debt restructuring and corporate loan screening
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Finance
Financial Services Commission, industry ministry to grow physical AI firms with National Growth Fund
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Finance
Kosdaq at 30: government and exchange to weed out troubled firms and grow innovators
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Finance
Dongtan, Giheung, Guri designated as regulated areas; mortgage LTV set at 40 percent
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Finance
Banks to apply step 2 stress DSR to non-capital mortgages in second half
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Finance
Hana Bank launches MyData service for teens aged 14 and over
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Finance
Capital markets also show economies of scale as big brokerages rush to boost capital
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Finance
Mid-rate livelihood stability loan launched for mid-to-low credit borrowers, up to 10 million won
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Fintech
Youth Future Savings open to applications regardless of birth year from June 29
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Finance
Bank new loan interest burden to ease from July
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Telecommunications & Media
Inter-agency task force launched to tackle AI-related crime; 10 agencies join
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Finance
Youth Future Savings Account applications top 1 million
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Finance
KOSDAQ left behind as penny stock delisting rules loom
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Finance
Finance industry needs lower network segregation, infrastructure barriers to speed AI innovation
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Finance
Finance commission to unveil October roadmap for T+1 stock settlement cycle