Heo Se-young (허세영), CEO of Lucentblock, called on South Korea\'s financial authorities to grant additional licences for over-the-counter brokerage in fractional investment distribution. He questioned the process by which the Financial Services Commission limited licences to a maximum of two and urged greater disclosure of the basis for the cap. He also raised concerns over how regulatory sandbox businesses are incorporated into formal rules. He said the firm could consider legal action if additional licensing is delayed.

Toss Bank and Gwangju Bank are developing a joint loan product for small and medium-sized enterprises, expanding cooperation from existing joint loans for individuals into corporate finance. Under the model, SMEs apply through Toss Bank’s platform and the two banks separately review applications before jointly setting loan limits and interest rates. The banks plan to streamline non-face-to-face procedures and simplify document submission. They will also cooperate on consumer protection, communications and staffing exchanges.