| Mobile Web

Search results for WeMakePrice

AI & Enterprise

FSS to step up preventive consumer protection, use AI to handle complaints and disputes

South Korea\'s Financial Supervisory Service said rising complaints and disputes and short-term performance-driven sales practices remain key consumer-protection challenges. It plans to strengthen oversight focused on prevention rather than post-incident relief, including launching an AI-based integrated portal for handling complaints and disputes in January 2027. The FSS also cited progress in institutional improvements, dispute mediation, financial crime 대응 using AI, and new monitoring systems for digital finance and virtual assets.

Finance

Travel Wallet faces capital task ahead of 2027 Kosdaq IPO

Travel Wallet, which is seeking a Kosdaq listing in 2027, must further bolster equity as its prepaid balances have risen rapidly. South Korea\'s financial authorities required the company to increase capital and improve profitability through changes to its business structure. Travel Wallet said it can meet the management improvement standards within the deadline and that there is no change to its existing IPO schedule. The company has not disclosed its current equity or the amount of capital it needs to raise.

Fintech

Financial regulators to tighten protection of PG settlement funds, cancel licenses or registrations after repeated suspensions

South Korea\'s financial authorities will strengthen protection for settlement funds held by payment gateway (PG) firms and tighten soundness rules to prevent a repeat of the TMON and WeMakePrice non-settlement incident. PG firms will be required to have settlement funds managed externally through bank deposits, trusts or payment guarantee insurance, with the external management ratio rising to 100 percent from the third year. Capital requirements and disclosure rules for large operators will be raised, and repeated business suspensions within five years could lead to license or registration cancellation.