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Finance

FSC closes second enrolment for Youth Future Savings, begins eligibility screening for 688,000

South Korea’s Financial Services Commission said 688,000 people applied for the second round of the Youth Future Savings programme held from Oct. 7 to 16. Cumulative applicants across two rounds reached 2.819 million excluding duplicates. People aged 25 to 29 made up the largest share, and most applicants were general income earners. The FSC will review income and eligibility through Nov. 13 and allow account openings from Nov. 16 to 27 on mobile apps.

Finance

Youth Future Savings second-round applications close on Oct. 16; switching from Youth Leap Account possible

Second-round applications for South Korea\'s Youth Future Savings product close at 6:30 p.m. on Oct. 16, the Financial Services Commission said. Eligible applicants are those born between Nov. 17, 1991 and Nov. 27, 2007, aged 19 to 34 at signup, with up to 6 years of military service excluded from age calculations. Screening runs from Oct. 19 to Nov. 13, and approved applicants can open accounts Nov. 16-27. Existing Youth Leap Account holders may switch if eligible.

Finance

Simple payments expand acceptance as night stock trading ramps up

South Korea\'s simple payment companies are expanding where their services can be used by linking existing networks and supplying payment infrastructure to new sectors. Banks and internet-only lenders are also widening mobile lending and alternative credit offerings. Regulators and the government are moving on youth savings, transport fare support and payment security checks. After-hours trading has extended KOSPI and KOSDAQ hours to 8 p.m., while debate continues over digital asset taxation and related infrastructure.