Moon Jae-nam, the representative of the Alternative Credit Assessment, said on the 17th, "We plan to secure additional non-financial data, including affordable phone data, as a starting point for the first anniversary of the Alternative Credit Assessment approval." The Alternative Credit ...
The Financial Services Commission ordered the Financial Supervisory Service (FSS) to prepare measures to sincerely comply with the National Assembly's request for information related to operational expenses. The FSS only publicly discloses a portion of the operational expense details and is also ref...
Domestic major banks are concerned about the deterioration of overseas performance due to the United States' reciprocal tariff measures. This is mainly because the countries subject to high tariffs from the U.S. are concentrated in China and Southeast Asia, where domestic banks have many overseas br...
The three major U.S. stock indexes plummeted, but virtual assets such as Bitcoin remained stable. As of 7:50 a.m. on the 17th, Bitcoin is recorded at $84,476, up 0.53% compared to 24 hours ago on CoinMarketCap, a global coin market tracking site. Ethereum is showing $1,590, down 0.40%. Solana is up ...
The Democratic Party of Korea will propose the 'Korean-style Fairfund Act' to compensate financial consumers who have suffered losses due to incomplete sales of financial products or market manipulation with government funds. This is intended to benchmark the Fairfund currently operating in the Unit...
Last year, the fisheries cooperative recorded a deficit of 272.5 billion won and has begun restructuring failing cooperatives. Of the 89 unit cooperatives, half, or 43, reported net losses. According to the financial sector on the 14th, the fisheries cooperative is selecting an accounting firm to ev...
The Financial Services Commission held an agenda subcommittee meeting on the 10th and conducted a review regarding Woori Financial Group's acquisition of Tongyang Life Insurance and ABL Life Insurance, but it was reported that no final conclusion was reached. This is the second review following the ...
Chairperson Kim Byeong-hwan said, “We will thoroughly promote the easing of regulations on fintech investments and ownership by financial holding companies,” on the 10th. On the same day, Chairperson Kim attended the 3rd Fintech Open Networking Day held at the Woori Bank headquarters in Jung-gu, Seo...
The U.S. Trump administration suspended the imposition of mutual tariffs from major countries except China for 90 days, leading to a surge in the prices of digital assets such as Bitcoin. As of 8 a.m. on the 9th (local time), Bitcoin is trading at $83,064, up 8.43% from 24 hours ago, according to Co...
Beginning in July, the use of physical one-time password generators (OTPs) from six companies will be discontinued. This is due to the expansion of new security media, such as joint certificates and mobile OTPs, which led to a large number of physical OTP manufacturers shutting down. Financial insti...
