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Finance

Governance reform, digital assets legislation in focus as financial agenda may accelerate after election

South Korea\'s financial sector is turning its attention to regulators and parliament after the June 3 local elections, with a range of delayed policy issues expected to return to the agenda in the second half. These include governance reforms at financial holding firms, possible restrictions on jeonse loans for non-resident single-home owners, a no-fault compensation scheme for voice phishing victims, the Digital Assets Basic Act and revisions to the Microfinance Act.

Finance

Stablecoin race for control spreads, KOSPI nears 7,000

Competition over global payment infrastructure centered on stablecoins is spreading across the financial industry. Hana Financial Group is moving to cooperate on blockchain-based remittances with Dunamu and POSCO International, while Visa is expanding its stablecoin pilot and adding five more blockchains. U.S. banks are calling for stronger in-house blockchain strategies, and Shinhan Card is expanding a Solana-linked proof-of-concept. Markets also remain strong, with the KOSPI holding above 6,600 and repeatedly hitting record highs.

Finance

NH NongHyup Bank launches local settlement finance package, bolsters support outside capital

NH NongHyup Bank said on April 17 it will launch a “local settlement finance package” from the end of this month for regions outside the Seoul metropolitan area to support local economic revitalisation and balanced national development. The programme will run through end-2026 with a 1 trillion won cap for new mortgage borrowers. It will offer a 0.2 percentage-point preferential rate, waive early repayment fees and have the bank cover stamp duty in full.