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Crypto

Banks or non-banks? Last-minute tug of war over won stablecoin issuers

As discussions to institutionalise won-denominated stablecoins near the final stage, South Korea is debating how broadly to allow issuers. Authorities are consulting on issuer eligibility, reserve assets and redemption systems under the planned Digital Asset Framework Act. One option would allow issuance by consortia in which banks hold a majority stake. The Bank of Korea supports introducing private won stablecoins but stresses risks to financial markets and monetary policy as scale grows.

Finance

Korean banks\' loan delinquency rate rises for second straight month; SME corporate at 1.10 percent

Korean banks’ delinquency rate on won-denominated loans rose to 0.69 percent at end-August, extending gains for a second month, data from the Financial Supervisory Service showed. Delinquencies on loans to small and medium enterprises reached 1.00 percent, with SME corporates at 1.10 percent. The watchdog said overall delinquency remains below the long-term average, but warned vulnerable areas such as SMEs and individual business owners could see further increases.

Finance

FSC to tighten real estate lending limits for specialised credit firms, mandate PG payment risk checks

South Korea’s Financial Services Commission is seeking to strengthen rules on real estate lending by specialised credit finance companies such as card and capital firms, and to require card companies to regularly check payment risks at payment gateway operators. The plan introduces new sector limits for real estate and construction lending, and caps combined exposure with real estate PF loans. It also eases limits on rental business handling while keeping a ban on entering the short-term rental market.