KB Financial Group has completed the first phase of its programme to help small and medium-sized companies prevent industrial accidents and is moving to recruit participants for a second phase with the Korea SMEs and Startups Agency. The initiative provides tailored safety solutions for SMEs that face difficulty building safety infrastructure due to cost burdens and a lack of safety personnel. KB Financial will fully fund the 7 billion won budget.

Fintech and Big Tech firms are expanding financial services beyond payments and transfers into identity verification, offline payments, venture capital and corporate finance. Toss, Kakao Pay and Naver Pay can use a government network to verify resident registration cards, strengthening non-face-to-face checks and fraud prevention. Naver Pay launched Npay Startup with the Financial Supervisory Service. Kakao Pay Securities secured an investment dealing licence. Financial groups are revamping second-half strategies as household lending rises and regulators review IT controls and network separation rules.