SEOUL, June 16 (Korea Bizwire) — South Korea’s telecom regulator has started assessing 5G service quality following constant consumer complaints, industry sources said Tuesday. The Ministry of Science and ICT has recently started to evaluate 5G service quality in Seoul and major cities in the country, according to the sources. This is the first time [...]
SEOUL, Dec. 23 (Korea Bizwire) — The financial regulator said Sunday it can give preliminary approval to two Internet-only banks in May next year, but hinted that only one group could receive approval if another group is unsuccessful. Two Internet-only banks — K-Bank and Kakao Bank — were launched last year, challenging traditional banks in [...]
SEOUL, Aug. 21 (Korea Bizwire) — The head of the financial regulator said Tuesday that technology firms could become a top shareholder of an Internet-only bank as the government moves to ease regulations on Web-only banks’ ownership structure. Under the current banking law, a nonfinancial firm is banned from owning 4 percent of voting stocks [...]
SEOUL, Sept. 21 (Korea Bizwire) — The head of the Financial Supervisory Service (FSS) said Thursday the regulator seeks to build an innovation-friendly financial environment to help the growth of the financial technology industry. Choe Heung-sik, governor of the FSS, made the remarks during a conference in Seoul to debate how best the financial industry [...]