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Finance

South Korea\'s FSC builds consensus on phased rollout of scraping blocking, seeks public MyData alternative

South Korea\'s financial authorities discussed a plan to implement limits on scraping in phases after preparing alternatives such as public MyData, aiming to reduce inconvenience for financial consumers caused by blocking by administrative bodies and the Supreme Court. The Financial Services Commission held a financial sector inspection meeting on scraping restrictions and reviewed expected impacts and response measures. Participants backed the purpose of blocking while calling for sufficient alternatives and a preparation period, and also reviewed security and internal controls used in current scraping processes.

Finance

Shinhan Bank opens Shinhan SOL Cluster Busan to boost financial support for marine industries

Shinhan Bank is strengthening financial support for marine industries in South Korea’s southeast region, centred on Busan. The bank said it held an opening ceremony on Aug. 11 for its Shinhan SOL Cluster Busan at the Busan Seomyeon Financial Center. Operating since July 1, the regional platform will identify companies and support them from demand diagnosis to financing execution, including links to policy finance and Shinhan Financial Group services.

Games & Commerce

Warning signs as game industry growth slows, calls for tax credits for production costs

As growth and exports in South Korea\'s game industry slow, participants at a policy forum called for expanded support such as tax credits for game production costs. Korea Creative Content Agency executive Song Jin said games account for about 15 percent of content industry sales and 60.4 percent of exports, but get 6.9 percent of the budget. He projected 2030 targets would be missed without additional intervention. Speakers also urged tax and financing measures and listing incentives.