The Financial Services Commission said on the 13th that it will accept applications for designation as "innovative financial services for the third quarter of 2026" from the 14th to the 30th.
Corporations hoping to be designated as innovative financial services can submit applications on the Financial Regulatory Sandbox website. The Financial Services Commission (FSC) plans to review the submissions at the Innovative Finance Review Committee within the statutory review period of up to 120 days and decide on designation after a regular meeting.
The Financial Services Commission (FSC) and the Korea Fintech Support Center formed a specialized support team of 73 experts in law, patents, accounting, and technology to offer free consulting to applicant corporations. They can receive counseling on the overall system before drafting the application and a check of formal requirements after drafting. Consulting on substantive requirements related to the screening criteria is provided only to small and midsize Fintech corporations.
Corporations can also check past cases of innovative financial service designations and frequently asked questions (FAQ) on the website. After applying, they can track the review stage and timeline through My Page. The Financial Services Commission (FSC) asked corporations to submit with time to spare, noting that submission errors may occur right before the deadline.