Korea

South Korea’s Rapidly Growing P2P Lending Industry Faces Scrutiny

With a mushrooming delinquency rate and investment fraud allegations, South Korea’s rapidly growing peer-to-peer (P2P) lending industry has come under scrutiny. Over the past couple of years, the delinquency rate, or the percentage of loans that are past due, has

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Korean Messaging Giant Kakao’s Ground X Launches Digital Asset Wallet “Klip”

Ground X, the blockchain affiliate of South Korean Internet giant Kakao and developer of Klaytn, today launched a blockchain-based digital asset wallet service called Klip. Available in KakaoTalk, a mobile messaging application used by more than 90% of the South

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Top 9 Up and Coming Fintech Startups in South Korea to Watch in 2020

Fintech has been named one of the top priorities for South Korea this year. The government has said it will go all out to nurture the fintech industry in 2020 and has set aside a budget of 19.8 billion won

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Why South Korea’s Robo-Advisors Poised for Growth

Since 2016, South Korea has seen a horde of robo-advisors come on the market. As of June 30, 2019, more than 30 financial institutions had launched robo-advisor offerings, either by teaming up with other companies or by creating their own

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5 Fast Growing FinTechs in South Korea According to IDC

IDC Financial Insights today released the 2020 update of its FinTech Fast 101 research which details a list of fast-growing FinTechs in Asia/Pacific excluding Japan (APEJ) from 11 key markets. IDC’s FinTech Fast 101 research refers to fast-growing fintech players

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South Korea Lays Out 24 Key Focus to Scale up Fintech

The FSC announced measures to promote fintech scale-ups on December 4, which includes 24 key tasks in 8 different policy areas. The government has been promoting the fintech industry as part of its innovation-led growth strategy amid digital transformation and

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South Korea Eyeing to Grant More Virtual Banking Licenses

South Korea’s Financial Services Commission (FSC), the government’s top financial regulator, will resume a new round of procedures for granting preliminary approval for digital banks, the FSC said on July 17. Earlier this year, the FSC said it intended to

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Korea’s Regulator Approves Another 5 Companies to Be Part of its Fintech Sandbox

The Financial Services Commission of  South Korea has approved an additional 5 companies to be part of its fintech sandbox. At the time of publishing the regulator has approved 42 services to be tested in the sandbox, 9 of which

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5 Recent Stories Shaping Korea’s Blockchain Ecosystem

South Korea’s attempts to put itself on the map in the world of blockchain seem to be bearing fruit more and more lately. Increasingly, South Korean banks and tech firms are ramping up blockchain adoption in a big way with

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A Look into South Korea’s Booming E-Wallet Scene

South Koreans are increasingly going cashless as more people turn to e-wallets in South Korea for both online and offline purchases. Figures can attest of the rapidly growing trend with 2.12 million won (US$1,800) worth of mobile payment transactions being

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