Search results for joint loan
Finance
Capital market rules tighten as MyData programme expands
South Korean financial authorities are accelerating efforts to tighten capital market discipline, pledging tougher action against illegal practices aimed at avoiding delisting and pushing for timely exits of so-called zombie firms. Korea Exchange will introduce rules from July to delist penny stocks and raise standards for dealing with weak companies. Regulators also plan to curb duplicate listings and tighten reviews. Some decisions, including Hong Kong ELS fines and Samsung Securities approvals, remain delayed.
Finance
KakaoBank, Busan Bank sign joint SME loan agreement
KakaoBank and Busan Bank signed an agreement to pursue a joint loan business to expand financial support for small and medium-sized enterprises and vitalise the regional economy, they said on April 14. The two lenders held a signing ceremony on April 13 at Busan Bank’s headquarters and agreed to cooperate on launching joint loan products for SMEs and sole proprietors, expanding financial support and developing new financial services.
Finance
Online loan refinancing for sole proprietors to open, internet banks race to dominate
South Korea plans to introduce an online loan refinancing service for sole proprietors within the first quarter, with system development among banks, platforms and the Korea Financial Telecommunications and Clearings Institute nearing completion. The Financial Services Commission aims to ease interest burdens in a high-rate environment by spurring competition. Internet-only banks are expanding small business lending, while lending by the five biggest commercial banks slipped year on year.