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Finance

6 online lending firms call for standards for big conglomerate and large platform entry

Six online investment-linked lending firms that participate in financial institution-linked investments said separate standards are needed as major conglomerates and large financial platforms and institutions prepare to enter the sector. They said conflicts of interest and distorted competition could arise, especially if a powerful group runs both loan comparison and brokerage services and online lending. They also said current caps and approval procedures limit new funding, risking intensified competition for limited resources.

Telecommunications & Media

Facial recognition to apply to new mobile sign-ups and number porting to block illegal phones

From next month, South Korea will apply strengthened identity verification, including facial recognition, when consumers open a new mobile phone line or switch carriers through mobile operators and MVNOs. The Ministry of Science and ICT announced a comprehensive plan to prevent fraudulent phone use, including measures targeting identity theft, misuse of corporate names and tougher sanctions on carriers and retailers caught enabling illegal activations. It will also expand subscription-blocking services and tighten controls on foreign and corporate phone lines.

Finance

SpaceX confirms IPO to raise more than 100 trillion won, contrasting with Korea\'s big-deal drought

SpaceX is proceeding with a Nasdaq listing and confirmed an offering of 555,555,555 common shares at $135 each, implying about $75 billion in proceeds, with potential upside if an overallotment option is exercised. In South Korea, the IPO market remains subdued despite a strong stock market. New listings and fundraising are limited, with a shortage of large deals and weak post-listing share performance weighing on sentiment.