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Finance

Internet-only banks to expand in-person services, allowing debt restructuring and corporate loan screening

South Korea will partly expand the scope of in-person services allowed for internet-only banks while keeping the principle of non-face-to-face operations. The Financial Services Commission approved measures to allow exceptions for consumer protection and inclusive finance, including debt restructuring support, corporate loan screening interviews, and checks for forged documents. It also allowed in-person verification tied to mortgage and jeonse loans, collateral inspections and certain administrative limits. The three internet-only banks must report plans in advance.

Crypto

K Bank joins Korea-Europe stablecoin cooperation project

K Bank said on Wednesday it will join Pangea, a stablecoin cooperation project jointly 추진 by Korean and European banking sectors. The project includes Korean banks, Kivalis, a firm working to issue stablecoins in the European Union, global financial messaging network SWIFT and blockchain interoperability technology company Chainlink. Participants plan to jointly research and verify a next-generation overseas remittance model, including linking won- and euro-based stablecoins.

Finance

K-Bank starts building remote lending system for small and midsized companies

K-Bank is moving to expand its experience in remote credit operations into financing for small and midsized companies. The bank said on June 24 it has begun a project to build a lending system for SME corporate customers. The core of the project is to create a corporate finance platform that allows customers to complete the entire process online, from application and screening to disbursement and post-loan management. The system is targeted to open in 2027.