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Finance

Four major financial groups\' Q1 results split as AI, digital finance spread

South Korea\'s financial sector has entered the first-quarter earnings season, with non-interest income and non-bank units driving diverging results among major financial holding companies. KB Financial Group, Shinhan Financial Group and Hana Financial Group posted record results, while Woori Financial Group recorded a decline. Strong stock markets lifted securities firms\' earnings, and new savings and investment products were launched. The industry is also accelerating a shift toward AI and digital finance, alongside calls for stronger controls and risk management.

Finance

FSS, KOFIA launch task force to curb false, exaggerated investment firm ads

South Korea\'s Financial Supervisory Service and the Korea Financial Investment Association launched a task force on April 23 to improve rules governing advertisements by financial investment firms. Authorities cited cases of false or exaggerated claims, omitted mandatory disclosures and phrases that could be mistaken for guaranteed profits or loss protection. The task force will review the scope and procedures of pre-screening and strengthen internal controls for firms’ own ad reviews, while stepping up industry checks and collecting feedback to finalise reforms in the third quarter.

Crypto

Binance.US rolls out ultra-low spot fees targeting Coinbase, effectively near zero

Binance.US has introduced an ultra-low fee structure across all spot trading pairs, applying 0 percent maker fees and 0.02 percent taker fees with immediate effect. The move removes its previous volume-tiered fee schedule and extends fee-free trading from some bitcoin pairs to the entire spot market. Binance.US said the change can cut fees by up to 98 percent versus rivals. It also cited a SOC 2 Type II audit and broader service expansion.