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Finance

Lawmakers urge loan rule and simple payment changes as bank concentration deepens

South Korea\'s parliamentary audit raised concerns that funds are increasingly concentrating in banks while savings banks and mutual finance institutions shrink. Lawmakers also questioned the legal basis and procedures for the financial authorities\' household loan volume controls, calling them de facto mandatory rules. Separate inquiries focused on payment inconveniences for foreign tourists, Apple Pay fees and infrastructure costs, and limits on using iPhone NFC for local simple payment services. Authorities said they would review improvements.

Crypto

Toss completes blockchain public payment infrastructure PoC with Korea Minting and Security Printing Corp

Toss has completed a proof of concept with the Korea Minting and Security Printing Corporation for a blockchain-based public payment infrastructure. The test linked an existing public payment system with blockchain and implemented a full flow from payment to merchant settlement in a separate local gift certificate test environment. The project used Ethereum layer2 Optimism and applied a privacy solution to reduce data exposure risks. Toss also said it will subsidise fees for some online merchants during Chuseok.

Games & Commerce

Smilegate launches official service for \'Eclipse: The Awakening\'

Smilegate said on Wednesday it has begun official service for \'Eclipse: The Awakening,\' an MMORPG developed by Npixel. The game is available on both PC and mobile and supports cross-play between the two platforms. Smilegate has also launched in-game events tied to character growth and equipment acquisition, along with payment promotions. Offline, it is partnering with Saenghwalmaekju to sell related products through Oct. 11 and provide in-game coupons to set buyers.