Search results for dormant deposits
Finance
Digital asset cross-industry ties spread as top 4 financial groups post 11 trillion won profit era
Big Tech, financial firms and payment companies in South Korea are widening digital-asset initiatives by teaming up with global blockchain companies. Kakao Group and Toss and Toss Bank are working with Circle to review stablecoin-based payment and settlement infrastructure and tokenised financial services. Banks are developing cross-border remittance and payment models. Separately, the top four financial holding groups posted combined first-half net profit above 11 trillion won, while regulators step up group-level oversight of fintech expansion.
Finance
KB Kookmin Bank offers integrated search for dormant deposits, insurance payouts at 100 financial institutions
KB Kookmin Bank is running a campaign that allows customers to search at once for dormant deposits and insurance payouts held at about 100 domestic financial institutions and apply for refunds. The bank said the campaign will run through Aug. 31 to help consumers recover unclaimed financial assets. Refunds are paid into the customer’s KB Kookmin Bank account, and dormant deposits of 300,000 won or less are refunded automatically.
Finance
ELS fines cut to 600 billion won after local elections, financial policy in focus
With the June 3 local elections over, attention in South Korea’s financial sector is shifting back to financial authorities and the National Assembly. Issues that lost traction during the campaign, including governance reform at financial holding firms, digital asset regulation, loan rules for non-resident single-homeowners and a compensation liability system for voice phishing, may return to the agenda in the second half. Regulators have also adjusted ELS sanctions and stepped up work on consumer protection and AI security threats.
