Korea
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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South Korea’s Banks Commit US$492.7 Million to Digitisation
South Korea’s banking industry is embracing digital transformation with 65.7% of the country’s financial institutions pursuing various business projects in regard to digitalization. These firms have committed a combined 584.5 billion won (US$492.7 million) this year towards such projects, according
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Korea Approves 9 Companies into its Fintech Sandbox
As part of its overarching grand plan to boost fintech in Korea, the Financial Services Commission of Korea announced the first batch of financial services providers into its financial regulatory sandbox. Among 19 applications shortlisted for priority review, 9 firms
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Top 10 Hottest Fintech Startups in South Korea
Though relatively small when compared with the likes of China and Singapore, South Korea’s fintech industry has witnessed significant growth in the past years with now some 400 fintech companies present in the country. The ecosystem’s rapid development has been
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5 Things South Korea’s Regulator is Doing to Advance Fintech
2019 promises to be an exciting year for fintech in South Korea as the country’s financial regulator pushes for fintech innovation by taking on a series of ambitious initiatives. It is already home to some promising fintech startups and vibrant
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Top 10 Fintechs in South Korea
South Korea’s fintech industry remains small compared to the likes of China or Singapore but the sector is expected to grow significantly in the years to come supported by the government’s commitment to boost development and establish a favorable environment
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