Search results for Foreign Direct Investment
Finance
Financial sector \'digital risks\' rise, putting IT controls to the test
As financial companies expand use of AI, South Korean regulators are sharpening oversight of security and internal controls. The Financial Services Commission plans to exempt sanctions for minor system disruptions during AI security tests or emergency patches if conditions are met, while requiring swift recovery and consumer protection. The Financial Supervisory Service will intensively inspect IT basic controls in the second half and urged banks to build AI internal-control systems. A Woori Bank data leak and broader market and industry moves have also highlighted digital risks.
Finance
Shinhan Bank launches escrow service for foreign direct investment
Shinhan Bank has launched an escrow service dedicated to foreign direct investment to strengthen transaction safety between foreign investors and domestic investee companies. Under the service, after an FDI report and once investment funds arrive, the bank keeps the money in a separate account and releases it only after procedures such as contractual conditions precedent are completed. The bank will waive all escrow service fees for early users and provide professional consultations linked to external law firms.
Fintech
Shinhan Bank holds K-Global Leap Cooperation Forum to support firms entering U.S.
Shinhan Bank is stepping up support for small and midsized South Korean companies preparing to enter the U.S. market. It plans to provide practical information needed for local expansion, from setting up a corporation to tax and accounting and financial support, amid changes in the U.S. trade environment and accelerating restructuring of global supply chains. The bank held a conference in Seoul with the Ministry of SMEs and Startups and the Korea Chamber of Commerce and Industry.
