Finance
Fee cap crackdown targets loan platforms, fintech industry on edge
South Korea’s financial authorities are considering introducing a cap on brokerage fee rates for online loan comparison and brokerage platforms by revising an enforcement decree under the moneylending law. Officials aim to ease lending-rate burdens at savings banks, where platform fees are higher than at commercial banks. Fintech firms dispute whether fee cuts will lower loan rates and warn the measure could weaken the loan-platform-centric fintech ecosystem, hitting smaller firms hardest.
