The financial authorities will accept preliminary applications for internet-only bank licenses from March 25 for two days.
The Financial Services Commission and the Financial Supervisory Service noted on the 19th that they finalized the schedule for accepting preliminary license applications after gathering opinions from prospective operators wishing to apply for internet-only bank licenses. Applicants seeking preliminary licenses must submit three copies of the application to the Financial Services Commission by 6 p.m. on the submission date.
Detailed information related to the preparation of the preliminary license application can be found in the "Banking License Manual" published on the FSS website and the "Internet-only Bank License FAQ" that is scheduled to be released by the end of January next year (tentative).
After the application submission, the approval of the preliminary license will be decided at the Financial Services Commission's regular meeting following the FSS review, which includes evaluation by a private external evaluation committee based on the "Standards and Procedures for New Internet-only Bank Licensing."