National Policy Committee Archives

Parliamentary Panel Passes Bill on Deregulation of Internet Bank Ownership

SEOUL, Sept. 19 (Korea Bizwire) — A parliamentary committee on Wednesday approved a bill aimed at allowing nonfinancial firms to have up to a 34 percent stake in Internet-only banks, easing the current 4 percent ownership limit for financial industry reform. The National Policy Committee agreed that family-owned conglomerates, known as chaebol, will not be [...]

Online Crowd Funding Agency and Loan Company Ad Restrictions Introduced

SEOUL, May 1 (Korea Bizwire) — An online crowd funding agency targeting small investors will be established in Korea. The National Policy Committee passed nine financial laws on April 30, and one of them was the establishment of an online small investment agent which enables a company to raise a maximum of 700 million won [...]