The Financial Supervisory Service (FSS) has decided to increase this year's budget for the investigation of illegal private finance from 150 million won to 226 million won and to double the sample size. The FSS has conducted annual investigations into illegal private finance since 2018 (the 2017 sur...
The price of Bitcoin is hovering around $87,000, forming a box range. Ripple had some positive news with the withdrawal of the lawsuit by the U.S. Securities and Exchange Commission (SEC), but it did not lead to a price increase. According to CoinMarketCap on the 28th, Bitcoin is trading at $87,409,...
A bill amending the NongHyup Act to allow the reelection of the president of the National Agricultural Cooperative Federation is expected to be reintroduced in the 22nd National Assembly. The bill to permit reelection of the NongHyup president was also discussed in the 21st National Assembly, but it...
The Democratic Party of Korea forced legislation prohibiting banks from reflecting costs in their loan additional charges and punishing employees in violation. The banking sector has since retracted its opposition and submitted a compromise plan. Observers in the financial industry have noted that t...
The assets of Financial Services Commission Chairperson Kim Byeong-hwan and Financial Supervisory Service Governor Lee Bok-hyeon, among other financial authorities, showed a slight increase compared to the previous year. According to the '2025 High-ranking Official Asset Change Report' published in ...
The National Federation of Community Credit Cooperatives announced on the 26th that it is continuing the 'MG BLUE WAVE' organizational culture innovation project to establish 'a place of pride that is loved by employees and trusted by customers' from 2023. The National Federation of Community Credit...
Woori Financial Group will be the first among the four major financial groups to introduce "tax-free dividends." With the introduction of tax-free dividends, individual shareholders can receive the full amount of their dividends without a 15.4% tax deduction. On the 26th, Woori Financial Group held ...
The Financial Supervisory Service (FSS) has put a stop to the practice of Hana Financial Group hiring retired executives as advisors and paying them high consulting fees. The FSS guided Hana Financial to strengthen the requirements for hiring advisors and to obtain board approval when appointing a r...
The number of external directors recruited from the Financial Supervisory Service is increasing among major insurance companies. This is interpreted as an effort to recruit individuals from financial authorities in preparation for the introduction of the accountability structure in July. According t...
The interest rate for the parking account, a representative high-interest product of the banking sector, has fallen to the 2% range. Financial consumers are moving idle funds to stock markets or savings and deposit products from mutual finance sectors to find higher interest rates. The parking accou...
