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P2P lenders gain momentum as rules ease; financial CEO appointments gather pace

Korea\'s online investment-linked finance industry is accelerating mid-rate lending to mid-to-low credit borrowers and sole proprietors after regulatory improvements. The Financial Services Commission plans to raise self-funding investment limits and financial-company linked investment caps, and expand limits for general investors. Major financial institutions are also stepping up CEO selection processes, while regulators tighten oversight of bank asset quality, governance and internal controls. Payment and digital-asset businesses widen partnerships and services.

Finance

Online investment-linked finance gains momentum for mid-rate loans, expands base to sole proprietors

Online investment-linked finance platforms have expanded credit loans for mid- to low-credit borrowers through linked investments with savings banks and have now laid the groundwork to lend to sole proprietors after further regulatory changes. The measures raise caps on linked investments by financial firms and allow use of a small merchant credit scoring infrastructure. The Financial Services Commission also plans stronger disclosures and external verification to bolster investor protection.

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