| Mobile Web

Search results for HF

Finance

Policy finance unit subsidiaries to be consolidated; relocation of financial public institutions remains variable

South Korea plans to consolidate facility and customer management subsidiaries scattered across policy finance institutions into function-based entities, under a broader push to reform public-sector functions. Five facility management firms will be merged into a tentatively named Policy Finance FMC, while two customer management firms will be integrated as Policy Finance CS. The government also plans mergers of certain subsidiaries into parent institutions. Separately, it will review criteria for keeping public bodies in the capital region as it prepares a second relocation plan to be finalised in the fourth quarter.

Finance

South Korea\'s FSC builds consensus on phased rollout of scraping blocking, seeks public MyData alternative

South Korea\'s financial authorities discussed a plan to implement limits on scraping in phases after preparing alternatives such as public MyData, aiming to reduce inconvenience for financial consumers caused by blocking by administrative bodies and the Supreme Court. The Financial Services Commission held a financial sector inspection meeting on scraping restrictions and reviewed expected impacts and response measures. Participants backed the purpose of blocking while calling for sufficient alternatives and a preparation period, and also reviewed security and internal controls used in current scraping processes.

Finance

Korean banks tighten lending standards ahead of government property measures

South Korea\'s financial sector is raising lending hurdles ahead of a possible government property package as early as next month. Banks are tightening self-imposed rules, including reducing credit loan limits and strengthening management of overdraft facilities, even as decisions on mortgage and jeonse loan curbs remain undecided. Markets are watching possible tighter jeonse loan guarantees and renewed focus on second-tier lenders. Internet-only banks are also cutting limits as demand shifts.