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Finance

FSC to tighten real estate lending limits for specialised credit firms, mandate PG payment risk checks

South Korea’s Financial Services Commission is seeking to strengthen rules on real estate lending by specialised credit finance companies such as card and capital firms, and to require card companies to regularly check payment risks at payment gateway operators. The plan introduces new sector limits for real estate and construction lending, and caps combined exposure with real estate PF loans. It also eases limits on rental business handling while keeping a ban on entering the short-term rental market.

Finance

NACF mutual loans delinquency at 17.5 percent; executive bonuses paid at loss-making co-ops

South Korea\'s parliamentary audit spotlighted weakness in mutual finance at local agricultural cooperatives under the National Agricultural Cooperative Federation, with joint-loan delinquency cited at 17.5 percent. Data presented by opposition lawmakers showed higher delinquency in loans to non-members and quasi-members and most estimated losses tied to those loans. Lawmakers also raised concerns about executive performance bonuses at loss-making cooperatives and questioned oversight, internal controls and the effectiveness of supervision and audits.

AI & Enterprise

Vesl AI partners with Korea Investment & Securities on GPU financing to expand infrastructure

Vesl AI said on Oct. 15 it signed a memorandum of understanding with Korea Investment & Securities on graphic processing unit, or GPU, financing. Under the deal, Korea Investment & Securities will support expanded investment and fundraising needed for GPU infrastructure projects, while Vesl AI will cooperate in pushing the business based on its experience operating a GPU cloud platform. The investment structure and size will be decided through project-by-project talks.