Search results for Kookon
Finance
Race to pre-empt won stablecoin as third financial hub nears
South Korea\'s financial authorities raised their target for household loan growth this year and NH Nonghyup Bank resumed variable-rate mortgage lending, drawing attention to whether mortgage hurdles will fall across the sector. COFIX rose for a fourth month, increasing borrowers\' interest burdens. Financial support for mid-to-low credit borrowers and small businesses is spreading, while the government and regulators advance plans tied to regional finance hubs and debate over a won stablecoin shifts toward payment, distribution and custody infrastructure.
Finance
PG firms team up to block fraudulent payments, rate hike fallout in focus
South Korea\'s fintech sector is expanding payment infrastructure while strengthening security and user protection. The Financial Supervisory Service and the Korea Fintech Industry Association launched a consultative body with major payment gateway firms to curb suspicious transactions. The Bank of Korea raised its policy rate to 2.75 percent, the first hike in 3.5 years, prompting tighter household lending management. Authorities also plan higher deposits and trading units for single-stock leveraged ETFs.
Finance
Korea Fintech Industry Association launches under Kim Jong-hyun amid regulatory risks
Kim Jong-hyun (김종현), CEO of Kookon, was elected the sixth chairman of the Korea Fintech Industry Association, as the industry focuses on unresolved tasks including regulatory risk. Financial authorities are tightening requirements across prepaid limits, the introduction of a MyPayments business, stronger payment risk management for e-finance operators and financial soundness checks for lower-tier PG firms. The industry says the key issue is how rules are applied, and Kim has proposed legal status for the association and shared compliance infrastructure.