An AI-powered credit rating system will be introduced this year to extend more loans and financing to small business owners with high growth potential but little collateral, the country's financial regulator said Thursday.
The country's financial watchdog called on local lenders Thursday to heighten their risk management for exchange-traded funds and prevent the mis-selling of such products amid a recent surge in sales of the financial products.
Outstanding loans extended to risky real estate development projects dropped sharply last year via sell-offs or recapitalization, the financial watchdog said Sunday.
Payouts for fraudulent insurance claims rose to an all-time high last year, although the number of fraud cases fell, the financial watchdog said on Tuesday.
The chief of the country's financial watchdog said Thursday that authorities are working to draw up measures to curb high household debts, signaling that stricter rules may be set in motion this year.
Financial authorities have referred several “finfluencers” to prosecutors for alleged front-running schemes, warning investors against blindly following stock tips on social media.
The financial watchdog on Wednesday warned retail investors against rushing to buy high-risk financial products amid increased market volatility.
The country's financial watchdog said on Friday that securities firms should thoroughly manage and monitor illegal short selling amid increased financial volatility caused by the extended Middle East crisis.
The Financial Supervisory Service (FSS) has extended its inspection of cryptocurrency exchange Bithumb through the end of February following the mistaken payment of 60 trillion won ($41 billion) in Bitcoin tokens.
A new type of illegal investment scam, which lures investors using shamanistic practices such as fortune telling, is spreading, Korea's financial regulator warned on Wednesday.
Korea JoongAng Daily Sitemap
